How did the Covid-19 pandemic affect financial reporting?

Posted on September 17, 2021 by Editor

This is one story where we recommend taking a look at the original visuals, as Bloomberg reports on ‘How the pandemic shaped financial reporting, in four charts,’ based on a study by Audit Analytics. It looked at some key metrics commonly used to gauge the reliability of financial reporting – including going-concern audit opinions, impairments, internal controls and restatements – and how they were affected by the uncertainty of a pandemic. Of the metrics considered, the most notable impacts were seen in soaring impairments, reflecting changes in forecasts and assumptions, and a huge peak in changes in internal controls as companies adapted to shifting risks and modalities.

Read more here.

Other Posts


Would you like
to learn more?

Join our Newsletter mailing list to
stay plugged in to the latest
information about XBRL around the world.

By clicking submit you agree to the XBRL International privacy policy which can be found at xbrl.org/privacy