COVID-19 | Estimating in uncertain times

How should management reflect the significant uncertainties in the future economic outlook when making estimates?

How should management reflect the significant uncertainties in the future economic outlook

29 May 2020

COVID-19 has completely changed the macroeconomic landscape; the level of uncertainty about the future economic outlook and the related market volatility pose significant challenges for management when making estimates.

In our latest podcast, Reinhard Dotzlaw, Matt Cook and Michal Dusza provide their insights on some of the key challenges around making estimates in uncertain times.

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“The level of uncertainty about the future outlook – and the related market volatility – pose significant challenges for management when making estimates.”

Reinhard Dotzlaw
KPMG’s Global IFRS leader

“This year is going to call for significantly more judgement and effort as you deal with the increased estimation uncertainty this crisis has caused. So make sure you start early and allow enough time.”

Matt Cook
Partner, International Standards Group

“Now more than ever you should be proactive in planning and making necessary adjustments to your processes and controls, and engaging with your audit committee and auditors early and often.”

Michal Dusza
Partner, KPMG in the US

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