As of July 13 2020, there have been 42 audit opinions for SEC-registered public companies 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 for the … Continue reading
Category Archives: Coronavirus
Trends in SEC Bankruptcy Filings Related to Oil Prices
The sharp decline in oil prices at the beginning of 2020 amidst the COVID-19 pandemic has led to increased speculation about the state of the economy and potential impacts on the financial health of public companies. The collapse of oil … Continue reading
SEC Eyes Impairment Testing in Comment Letter Amid Pandemic
Last week, the Securities and Exchange Commission (SEC) released a comment letter to Carlisle Companies Incorporated [CSL] – a global diversified manufacturing company – asking the Company to expand on its disclosure regarding impairment testing in Q1 2020. Carlisle’s annual … Continue reading
Going Concerns Related to Unknown COVID-19 Impacts
As of May 20, 2020, there have been 30 audit opinions for SEC-registered public companies 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 for the … Continue reading
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