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Brexit and financial reporting
Brexit and financial reporting
Questions for audit committees
“Many audit committee members I speak to express concern about signing their year-end annual reports before the Brexit outcome is known.” Tim Copnell
“The bottom line is that management are expected to provide meaningful disclosures about the specific impact on their company… The fact that there’s still significant uncertainty around the final Brexit outcome is a challenge for them.” Pamela Taylor
“Whatever your company’s exposure to Brexit risk is, whether they are a UK or a non-UK company, the important thing is to provide clear disclosures about judgments and assumptions that you made in preparing your accounts…” Irina Ipatova |
A full transcript (PDF 640 KB) of this episode is also available. Visit our IFRS Today landing page to view other episodes in this series.
For discussion of some of the wider issues businesses face in the run up to the UK’s departure and beyond, listen to The Business of Brexit – the podcast series produced by KPMG in the UK.
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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
