SEC Chair advises on coronavirus impact on disclosures
Hot Topic | February 2020
KPMG provides considerations for companies conducting business with or in China as they assess impacts of coronavirus.
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SEC Chairman advises companies to monitor current and potential effects of coronavirus on disclosures. KPMG provides reporting considerations for companies conducting business with or in China as they assess the impact of coronavirus on their SEC reporting obligations.
Resource
Extended relief for companies affected by COVID-19
Updated: SEC filing deadlines further extended for companies impacted by the COVID-19 outbreak.
Applicability
Relevant dates
- Effective immediately
Key impacts
- Companies need to continuously assess the impact the coronavirus outbreak may have on:
- Required reporting, including periodic disclosures
- Accounting and financial reporting, including subsequent events
- Access to information in China
- Internal controls over financial reporting
- Filing deadlines.
- On February 19, 2020, the SEC issued a public statement on financial reporting considerations and the potential availability of regulatory relief related to the impact of the coronavirus.
- Companies should continue to monitor information coming from the SEC staff.
Report contents
- Background and SEC Chairman statement
- What should companies consider?
- Evolving information
External resources
Download the document:
Coronavirus
Download PDFMeet our team
Timothy Brown
Partner, Dept. of Professional Practice, KPMG US
Lisa Blackburn
Partner, Dept. of Professional Practice, KPMG US
Lindsey Freeman
Partner, Accounting Advisory Services, KPMG US
Erin McCloskey
Partner, Dept. of Professional Practice, KPMG US
Timothy Brown
Partner, Dept. of Professional Practice, KPMG US
Lisa Blackburn
Partner, Dept. of Professional Practice, KPMG US
Lindsey Freeman
Partner, Accounting Advisory Services, KPMG US
Erin McCloskey
Partner, Dept. of Professional Practice, KPMG US