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Coronavirus and financial reporting

Guidance for preparers of financial statements on the coronavirus outbreak, including advice on disclosure of risks and treatment of events after the reporting period.

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Impact on UK GAAP

Coronavirus (COVID-19): Introducing reverse stress testing

The COVID-19 pandemic has raised many questions about the viability of existing business models. Boards will in many cases need to revisit risk assessments and going concern assessments developed prior to the pandemic. Reverse stress testing is one technique entities can use to identify gaps in their risk management and vulnerabilities in their business models.

Technical news in brief March 2020

ICAEW's Audit and Assurance Faculty brings you the latest technical updates on developments in auditing and assurance, financial reporting and ethics. Please note Only Audit and Assurance Faculty members and Faculties Online subscribers have access to these technical updates.

Applying IAS 36 Impairment of Assets

This factsheet provides a summary of the basic principles of accounting for impairments and practical tips on application.

Impact on UK and international regulation of company accounts

Coronavirus: extensions to filing deadlines and changing reporting dates

26 March 2020: Companies House has advised that companies who are unable to meet their filing deadline due to COVID-19 will be granted an automatic and immediate three-month extension. However, companies must apply and applications must be submitted before the company’s filing deadline. Changing the year-end accounting date may also be an appropriate course of action for some companies in light of the current public health situation.