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
Category Archives: Coronavirus
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
Constructive Corporate Actions to COVID-19
Talk of coronavirus is becoming increasingly ubiquitous; it seems that no matter where you look, people are discussing the illness and the extensive impacts it’s having. Unfortunately, most of those impacts have been negative, or at the very least, not … Continue reading
SEC and PCAOB Offer Further COVID-19 Guidance
As we enter another week of uncertainty surrounding COVID-19 and its unquantifiable impacts, it’s becoming increasingly evident that no one knows what to expect. This is especially true for companies and businesses, as well as auditors. Fortunately, U.S. regulatory authorities … Continue reading
Coronavirus Slows UK Audit Opinions
On Tuesday, March 31, Quixant PLC – a UK-based gaming technology company – issued the following statement, claiming that KPMG LLP (UK) has decided to not sign any audit opinions or consents until April 5th: Quixant (AIM: QXT), a leading … Continue reading
Coronavirus Continues to Impact Financial Reporting
Last week, Audit Analytics posted two analyses looking at the effects of coronavirus we have seen on financial reporting across the US, Canada, and Europe. Coming as no surprise, we have more updates on important disclosures from public companies that … Continue reading