Resources for accountants and auditors regarding impacts of COVID-19 on financial statements

The COVID-19 pandemic is having a significant impact on a number of businesses and financial markets around the world. As a result, there are bound to be serious accounting and auditing implications on the financial statements of companies that will need to be considered as the situation continues to evolve in the coming months.

A number of regulators, governing bodies and accountancy firms have published resources to provide guidance for accountants and auditors in relation to the potential impact of the Coronavirus pandemic on the financial statements of companies. We have included below a list of some such resources that are available online for accountants and auditors regarding impacts of COVID-19.

The coronavirus and the IFRS Foundation’s work

Guidance for Auditors during the Coronavirus pandemic  

The Financial Reporting Implications of COVID-19

Updates on COVID-19 response
Guidance for auditors and matters to consider where engagements are affected by COVID-19

PCAOB – Reminders for Audits Nearing Completion in Light of COVID-19 

Chartered Accountants Ireland (CAI):
– COVID-19 Hub

COVID-19 Resource Hub

ICAEW Coronavirus Insights Hub

CPA Ireland
COVID-19 Impact on Financial Reporting and Audit

Institute of Chartered Accountants of Pakistan (ICAP):
– The Impact of COVID-19 on Audit – A guidance for Auditors
– ICAP COVID-19 Response Hub

IAS Plus
Accounting considerations related to COVID-19

COVID-19 response hubs for Irish accountancy firms
Grant Thornton 
BDO Ireland 

Disclaimer: The above is not an exhaustive list of resources and publications available online, however, we have tried to include resources from a variety of sources that we think may be helpful.

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