Paul Wilden, global head of capital markets and Sean Martin, head of corporate services & private clients at Apex Group, highlight the impacts of the pandemic on going concern statements, recent guidance and outline tips for auditors to ensure best practice is followed
The continuing Covid-19 pandemic and accompanying economic uncertainty has set the spotlight on the fundamental accounting principle of going concern statements which is set to continue as 2021 unfolds. Timely and accurate financial reporting underpins all decisions made by investors and other stakeholders in the capital markets. As we reach the one year anniversary of lockdowns and quarantines, companies and their auditors currently face unprecedented practical challenges in the preparation and auditing of their financial information.
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