COVID-19 - Accounting, Reporting and Other Related Considerations

BDO recognizes the challenges financial management teams and those charged with governance are facing with respect to the dynamic situation posed by COVID-19 and the difficulty in predicting related effects on their financial reporting and communications. In addition, regulators, shareholders and other stakeholders are urging and relying on companies to ensure their financial reporting is robust in light of such circumstances.

To assist both public and private companies in determining the impacts of COVID-19 on year-end and upcoming quarterly financial accounting and reporting and communications, BDO has compiled comprehensive guidance and example disclosures that provide a framework for thoughtful considerations for each of the following areas:

  • Accounting and financial reporting

  • SEC disclosure considerations

  • Financial statement disclosures

  • Accounting considerations

  • Auditing and audit report considerations

  • Example subsequent events disclosures (by industry)

  • Corporate governance and shareholder considerations and communications

In the coming weeks and months, we will continue to update our guidance and provide additional thought leadership and webinar learning opportunities to keep clients and contacts updated on evolving matters that impact their business. As always, BDO remains poised and ready to help our clients and contacts navigate their financial accounting and reporting and governance needs.