Broad disclosure impacts of COVID-19
Hot Topic | June 2020
Updated: Subsequent events, going concern, unusual items, risks and uncertainties evaluation and disclosures.
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Updated: The COVID-19 outbreak is impacting how companies evaluate and disclose subsequent events, going concern, unusual items, and risks and uncertainties in their financial statements.
Applicability
- All companies
Relevant dates
- Effective immediately
Report contents
- Background
- Subsequent events (ASC 855)
- Going concern (ASC 205-40)
- Unusual items (ASC 220-20)
- Risks and uncertainties (ASC 275)
- Considerations for SEC issuers
- Appendix A: Examples of business risks relevant to the subsequent events and going concern analysis
- Appendix B: Examples of financial statements estimates potentially affected by COVID-19
Download the document:
Coronavirus Broad Disclosure Considerations
Download PDFMeet our team
Valerie Boissou
Partner, Dept. of Professional Practice, and US-France Corridor Leader, KPMG US
Rivka Grund-Sender
Managing Director, Dept. of Professional Practice, KPMG US
Rika Tanaka
Managing Director, Dept. of Professional Practice, KPMG US
Valerie Boissou
Partner, Dept. of Professional Practice, and US-France Corridor Leader, KPMG US
Rivka Grund-Sender
Managing Director, Dept. of Professional Practice, KPMG US
Rika Tanaka
Managing Director, Dept. of Professional Practice, KPMG US