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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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ICAEW Insights

COVID-related rent concessions beyond 30 June 2021

18 February 2021: As lockdown continues, the issue of commercial rent concessions is certainly topical. Now the IASB is proposing an extension to the availability of the practical expedient issued last year that allows entities to account for rent concessions due to COVID-19 in a simpler way.

Impact on UK GAAP accounts

Impact on IFRS accounts

Issues relating to going concern

Coronavirus considering going concern

The Audit and Assurance Faculty have produced this two part guide for auditors, covering COVID-19 considerations for auditing going concern, and how to report when a material uncertainty relating to going concern exists.

Impact on UK and international regulation of company accounts