Organisations are being impacted by the coronavirus (COVID-19) pandemic, either directly or indirectly, and the increased economic uncertainty and risk may have significant financial reporting implications. Management of organisations with a 30 June 2020 balance date are now turning their focus to those financial reporting impacts and their regulatory obligations.
We have created the below COVID-19 Financial reporting resource centre to help you better understand the potential accounting and reporting implications for your organisation in the Australian environment, and the actions management can take now. This centre will be regularly updated, including for financial reporting impacts arising from government stimulus packages and for Australian regulatory guidance. Questions organisations may have around interactions with their financial statements' auditors are also included.