New publications: Impact on auditing for 2019 year-ends, EU country responses on reporting
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FACTSHEETS: CORONAVIRUS’ IMPACTS ON AUDITING & REPORTING

As countries in Europe are slowly reopening after weeks of lockdown, the (economic) effects are still trickling in. This will significantly impact companies’ accounting, reporting and auditing their financial statements.

To support professionals accountants in dealing with this, we have issued two factsheets:

Coronavirus’ impact on auditing for 2019 year-ends and beyond which analyses corona crisis related auditing guidance, as issued by global and national regulators and professional institutes. We highlight the following main matters for auditors to consider:

  • obtaining audit evidence
  • auditor’s assessment of going concern
  • auditor’s reporting
Coronavirus crisis: country responses to the implications on reporting which summarises EU country responses to the implications on company reporting as a result of the coronavirus outbreak focusing on:
  • extension of the filing deadlines
  • International Accounting Standard 10 Events After the Reporting Period (IAS 10)
  • going concern
  • International Accounting Standard 36 Impairment of Assets (IAS 36)
  • International Financial Reporting Standard 9 Financial Instruments (IFRS 9)
  • other governance matters

Meanwhile, keep checking Accountancy Europe’s coronavirus related work including our daily updated web hubs Coronavirus resources for European accountants and Coronavirus crisis resources – banks for more guidance from our Members, regulators, firms and others.


For information
Hilde Blomme, Deputy CEO
hilde@accountancyeurope.eu
+ 32 2 893 33 77

About Accountancy Europe
Accountancy Europe unites 51 professional organisations from 35 countries that represent 1 million professional accountants, auditors, and advisors. They make numbers work for people. Accountancy Europe translates their daily experience to inform the public policy debate in Europe and beyond.
Accountancy Europe is in the EU Transparency Register (No 4713568401-18).
 
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