Financial reporting implications of coronavirus

Deloitte

Accounting considerations related to coronavirus disease

EY

Accounting considerations of the coronavirus outbreak
Guide in EY's Applying IFRS series that highlights considerations when preparing IFRS financial statements for the year ended 31 December 2019.

FRC

FRC advice to companies and auditors on coronavirus risk disclosures
The FRC advises companies to consider which disclosures they may need to include in their year-end accounts, particularly for companies either operating in or having close trading associations with China or global supply chains dependent on Chinese-manufactured goods.

Updates issued by the FRC with regards to the COVID-19 Virus response

Useful resources especially if some of your clients have audits by someone else.

IFAC

Features a comprehensive resources hub. 

IFAC small business continuity checklist

Six ways for SMPs to evolve and thrive in the Covid-19 environment

To emerge from the COID-19 crisis, small firms need to address six key areas – focus on staff, client communication, accessing external resources, diversifying service offering, risk management and investment in technology.

Summary of Covid-19 Financial Reporting Considerations

Key financial reporting challenges and implications due to Covid-19 separated by specific areas (e.g. going concern, fair value measurement and impairment, lease accounting and hedge accounting) and highlighting various relevant resources from external stakeholders.

IATA Industry Accounting Working Group

Should coronavirus be accounted for as an adjusting or non-adjusting event?
Blog post from the IAWG focusing on whether the coronavirus should be accounted for as an adjusting or non-adjusting event.

PwC

Podcast: Accounting implications of the Coronavirus
Podcast which considers how the Coronavirus will impact 31 December 2019 financial statements

Accounting implications of coronavirus
Bulletin addressing the accounting implications of COVID-19 for December 2019 year ends in the context of IAS 10 Events After the Reporting Period. It discusses whether coronavirus should be accounted for as an adjusting or non-adjusting event.