Covid-19 Financial Reporting Implications
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Covid-19 Financial Reporting Implications
Given the uncertainty surrounding Covid-19, companies need to continually monitor developments and ensure that they are providing up-to-date and meaningful disclosure when preparing annual reports and financial statements. It is crucial that companies carefully consider the potential implications of Covid-19 when preparing or issuing such financial information.
COVID-19 & February period-ends
by Justine Combrink
Covid-19 only struck South Africa in March, with the first case reported on the 5th of March 2020. It is therefore a post-balance sheet event, and because it didn’t exist in South Africa at 29 February it is a non-adjusting post-balance sheet event – right? Well...maybe not.
Covid-19 only struck South Africa in March, with the first case reported on the 5th of March 2020. It is therefore a post-balance sheet event, and because it didn’t exist in South Africa at 29 February it is a non-adjusting post-balance sheet event – right? Well...maybe not.
Covid-19 Financial Reporting Implications
Given the uncertainty surrounding Covid-19, companies need to continually monitor developments and ensure that they are providing up-to-date and meaningful disclosure when preparing annual reports and financial statements. It is crucial that companies carefully consider the potential implications of Covid-19 when preparing or issuing such financial information.
COVID-19 & December year-ends
The Coronavirus has had a devastating impact on the world, on people, on health services, on their economies and the companies trying to stay afloat through it.
Notice from the IRBA: General Extension on Financial Reporting Periods
The following message is dated 3 April 2020 and received for attention Registered Auditors from The Independent Regulatory Board for Auditors