The COVID-19 pandemic shakes from the roots the world economy and the effects will be serious. Uncertainty about the future of companies in many fields increases from day to day.
Both persons charged with governance and financial auditors must give greater importance to the analysis of the exposure to the risk of going concern and of the implications on the annual financial statements. As of January 2020, auditors need to be extremely alert to audit risk, especially in the light of the direct implications on compliance with the going concern principle by audited companies.
For more details on professional recommendations addressed to financial auditors, CAFR members, click here
Posted on 31.03.2020