COVID-19

COVID-19 Accounting Considerations for CFOs

Events after the reporting period

If the widespread impact of COVID-19 began during the entity’s reporting
period, the impact will be reflected in its financial statements for that period. However, to the extent that the widespread impact of COVID-19 occurred during the entity’s ‘subsequent events period’ (ie the period between the end of the reporting period and the date when the financial statements are authorised for issue), management must determine how material developments after the year-end should be reflected in the entity’s financial statements for the period under audit or review.

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