Coronavirus outbreak and its accounting and audit implications
With the recent global outbreak of the coronavirus known as COVID-19, many business entities face possible significant disruption in their operations. The outbreak is not only a major threat to public health but also a considerable economic affliction.
To keep you informed, we have listed several special considerations relating to financial reporting standards, particularly of going concern and impairment. This update will cover the COVID-19 outbreak and its implications on the audit and accounting world.