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
Category Archives: Coronavirus
Accountancy Europe Makes Recommendations to Strengthen Going Concern Reporting
In the past few years, the EU has been hit with several high-profile corporate failures and collapses: Carillion, Thomas Cook, Patisserie Valerie. Corporate failure affects not only the related shareholders, but also the confidence the public has in the sustainability … Continue reading
Debt Offerings Surged in 2020
Following the uncertainty of COVID-19, many companies took to the debt markets to ensure they could cover short-term obligations and operating expenses. The explosion of debt offerings culminated in the total amount of notes and bonds eclipsing $2 trillion based … Continue reading
UK Regulators Address Challenges of Corporate Reporting Amid the Pandemic
Earlier this week, the Financial Conduct Authority (FCA) and the Financial Reporting Council (FRC) reminded companies in the UK that the permission to delay publication of financial reports is still in effect. The initial joint statement was issued in the early days of the lockdown in the UK on 26 March … Continue reading
Q4 2020 IPOs: Auditor Market Share and Stats
Overview There were an unprecedented 210 initial public offerings in U.S. markets between October 1, 2020, and December 31, 2020. Together, these 210 IPOs raised over $65 billion, an increase of over $56 billion from the same period last year and an increase … Continue reading
A Look Back at 2020
As 2020 comes to a close, it’s fair to say we’re all looking forward to the New Year; 2020 brought a year of uncertainty, filled with unprecedented events surrounding the Coronavirus pandemic that shook the world. However, despite the challenges, … Continue reading
Remediating Internal Control Weaknesses During Pandemic
As 2020 comes to a close, many public companies are gearing up for fiscal year ends and preparing annual financial statements. Particularly important this year is determining how to disclose pertinent information about COVID-19 in annual reports. Given the widespread disruption on regular operations, a disclosure of … Continue reading