Covid-19 means a lot of crystal ball-gazing in company accounts, audits

Fri, 03 Jul 2020

The economic fallout from the coronavirus pandemic is making preparing company accounts and the audit process trickier, requiring more disclosure and taking longer, according to KPMG partner John Kensington. "There's a lot of crystal ball-gazing to be done," Kensington told the webinar organised by the Institute of Financial Professionals. Preparing cash flow projections, a key input into impairment testing and deciding whether a company will remain a going concern for the 12 months after the accounts are published, will be the most diffi...

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