ICAEW.com works better with JavaScript enabled.

Preparing financial statements

Financial statements are prepared on basis that a business will continue to operate for the foreseeable future ie, that it is a going concern. Our guidance outlines who is responsible for ensuring that the going concern basis is appropriate, offers practical advice on how to make this assessment, and explains the implications for the accounts.

FRC issues COVID-19 guidance

30-03-2020

30 March 2020: the Financial Reporting Council has published guidance for companies preparing financial statements and a bulletin for auditors covering factors to be taken into account when carrying out audits during the current COVID-19 crisis.

The financial reporting implications of coronavirus

10-03-2020

As coronavirus continues to spread and more information comes to light about the nature of the virus and its impact, companies with 2019 and early 2020 year-ends need to consider how it affects their business and how the effects should be reported in the accounts. This guide is primarily aimed at those entities preparing accounts in accordance with FRS 102.