Your COVID-19 questions answered
The Technical Advisory Service highlights the questions practitioners have asked the most about COVID-19.
The pandemic and the lockdowns have presented practitioners with numerous practical and technical considerations. In this article, the Technical Advisory Service (TAS) answers some of the many related questions and points readers to the ICAEW resources that are available to help.
It is generally accepted that for companies with a 31 December 2019 year end, COVID-19 is a non-adjusting event. Companies with 2020 year ends will need to consider the timelines more carefully to assess the conditions that existed at the relevant balance sheet date.