Covid-19: regulators issue joint guidance on financial reporting and audit requirements

The Financial Conduct Authority (FCA), Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA) have announced a series of changes to the timing and content of financial information and the audit work required, in response to the current crisis, reports Pat Sweet

The FCA has stated that listed companies are to be given an extra two months to publish their audited annual financial reports.

Currently, under the Transparency Directive, companies have four months from their financial year end in which to publish audited financial statements.

Under the temporary relief the FCA says, among other things, it will forbear from suspending the listing of companies if they publish financial statements within six months of their year-end.

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