A staggering $518 billion was written off companies’ books through impairment charges in 2020 amidst the COVID-19 pandemic. $203.3 billion of that came from impairments related to property, plant, and equipment (PPE). As noted in our most recent report, Impacts … Continue reading
Category Archives: Coronavirus
Impacts of COVID-19 on Public Companies
Audit Analytics recently released a new report, Impacts of COVID-19 on Public Companies. Leveraging our extensive databases, this report provides an in-depth look at the pandemic’s impacts on certain aspects of financial reporting and financial health metrics of public companies. … Continue reading
Auditor Changes in Canada: 2020
Note: All amounts stated are in Canadian dollars In 2020, Canadian auditor departures decreased by 31.9%, with 230 departures observed throughout the year, compared to 338 departures seen in 2019. The percentage of resignations saw a break in the trend, with … Continue reading
Audit Analytics Attends AACSB’s ICAM 2021
Last week, Audit Analytics had the pleasure of attending the International Conference and Annual Meeting (ICAM) 2021, hosted by the Association to Advance Collegiate Schools of Business (AACSB). As defined by the AACSB, “the International Conference and Annual Meeting (ICAM) is AACSB’s … Continue reading
Reasons for an Amended 10-K: 2020
Form 10-K, an annual report filed by US-based public registrants, is the most comprehensive source of information regarding a company’s financials and its underlying business. These reports are thoroughly scrutinized by investors and other users, which explains why they need … Continue reading
Insights from COVID-19 References in CAMs
The COVID-19 pandemic has had wide-ranging impacts on public company disclosures over the last year. In particular, the pervasive and ongoing uncertainty affecting the global economy contributes to increased subjectivity underlying assumptions and increased challenges in determining estimates for certain … Continue reading
Auditors Acknowledge Uncertainty for Airlines Amid COVID-19
The auditors of two FTSE 350 airlines cannot confirm whether the companies will be able to continue operating for the foreseeable future due to uncertainty created by the global pandemic. EY and PwC highlighted the unpredictability of the future operations of … Continue reading