This post will be updated to reflect the current number of filings citing the COVID-19 pandemic in a going concern opinion, key audit matter, or emphasis of matter. Overall Statistics As of the week ended 15 May 2020 Audit Analytics … Continue reading
Category Archives: Coronavirus
European Audit Opinions Signed by Country
It is no surprise that COVID-19 has greatly impacted just about everything at this point; the worldwide pandemic has had such far-reaching effects, we’re only now beginning to understand how far the ripple goes. With that said, it’s also no … Continue reading
Impacts of COVID-19 on Late Filings
Between fiscal years ended 2015 and 2018, public companies had been improving their ability to deliver timely information; there were 851 late filings issued for fiscal year 2015 and just 638 for fiscal year 2018. However, this trend was reversed … Continue reading
Class Action Lawsuits and Regulatory Litigation Related to COVID-19
As the COVID-19 pandemic continues to wreak havoc on daily life, consumers and personnel that are feeling the ripple effects are beginning to file litigation against public and private companies in increasing numbers. Concurrently, the SEC is filing civil lawsuits … Continue reading
COVID-19 Affects Transaction Agreement for L Brands, Inc.
On April 22, 2020, L Brands, Inc. [NYSE: LB] announced that Sycamore Partners, a private equity firm, delivered a notice that same day purporting to terminate the transaction agreement relating to the sale of a 55% interest in Victoria’s Secret … Continue reading
Coronavirus Uncertainties Contribute to Going Concern Uncertainties
As of April 20, 2020, there have been 16 audit opinions on annual reports for SEC filers that have cited the COVID-19 pandemic as a contributing factor to substantial doubt about a company’s ability to continue as a going concern … Continue reading
SEC Provides Relief to Business Development Companies Amid COVID-19 Pandemic
The COVID-19 pandemic continues to affect nearly everyone worldwide, causing widespread economic disruption. While certain provisions and leniency have been granted in regards to financial reporting, some markets have experienced unanticipated effects – including the capital market, and more specifically, … Continue reading