Applying IFRS Standards in 2020—impact of covid-19

In their article from 28.10.2020, Mary Tokar, a member of the International Accounting Standards Board, and Technical Staff Member Sid Kumar, provide an overview of the key financial reporting considerations that may be on the minds of preparers, auditors, investors and regulators when tackling the complexities associated with covid-19. They take recourse to the views shared during a panel discussion at the IFRS Foundation Virtual Conference on 28.09.2020. The panel explored challenges that entities face in preparing their financial statements; auditors face when auditing this information; and investors face in making decisions based on the reported information in a time of heightened uncertainty.

The full article can be found here.