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Impact of coronavirus on the regulation of company accounts

ICAEW insights, technical guidance and other practical resources on the implications of the coronavirus COVID-19 pandemic for UK and international regulation of company accounts.

We have a separate page on coronavirus and charities providing practical information on filing accounts, managing charity finances and delivering services safely.

ICAEW insights

Coronavirus: Filing deadlines

This guide summarises the temporary measures introduced relating to filing requirements at Companies House to support companies during the COVID-19 pandemic.

Questions audit and risk committees ask

29 June 2020: The National Audit Office (NAO) has issued guidance to help audit and risk committee members examine the impact of the COVID-19 outbreak on government organisations.

Paying dividends during the COVID-19 crisis

14 April 2020: companies considering whether to pay a dividend during these turbulent times should take a range of factors into account, cautions ICAEW’s Head of Business Law Charles Worth.

External resources

Company Guidance (Updated 4 December 2020) (COVID-19)

FRC 04-12-2020

Consolidated guidance issued by the FRC for companies on corporate governance and reporting. The document covers management information, risk management and internal controls systems, dividends and capital maintenance, corporate reporting, the strategic report, viability statement, and financial statements. It supersedes previous guidance.

Summary of Covid-19 Financial Reporting Considerations

IFAC 03-06-2020

Overview produced by IFAC highlighting key financial reporting challenges and implications from COVID-19 with analysis and links to further resources. The summary covers going concern, events after the reporting period, fair value measurement and impairment of non-financial assets, expected credit losses, lease accounting, hedge accounting, deferred tax assets, revenue recognition, and interim financial reporting.

Coronavirus crisis: country responses to the implications on reporting

Accountancy Europe 10-04-2020

A summary produced by Accountancy Europe of responses by country to the implications on company reporting as a result of COVID-19. The publication focuses on extension of filing deadlines, IAS 10 Events After the Reporting Period, going concern, IAS 36 Impairment of Assets, IFRS 9 Financial Instruments, and other governance matters. A separate page Coronavirus crisis resources – banks covers information for European professional accountants dealing with financial institutions.

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