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.”
“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.”
“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…”
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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