This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IOSCO statement on going concern and COVID-19

  • IOSCO Image

Mar 24, 2021

On March 24, 2021, the International Organization of Securities Commissions (IOSCO) has released a statement on the need for high-quality information regarding going concern assessments and disclosures during the COVID-19 pandemic.

The statement stresses that the responsibility for developing and maintaining high-quality standards lies with the IASB and especially welcomes the recent IASB educational material on the topic of going concern disclosures as the topic is likely to be relevant for a larger number of public companies for 2020 and 2021 financial reporting periods in many jurisdictions.

IOSCO highlights that is important for investors to receive high-quality information about the existence of material uncertainties that may cast significant doubt on an entity’s ability to continue as a going concern. IOSCO also notes that it is important for investors to receive complete information about significant judgements that management may have exercised in determining the entity’s ability to continue as a going concern.

In conclusion, IOSCO reminds issuers, audit committees, and external auditors of the important role each plays in providing investors with high-quality, reliable, timely, and transparent financial information, especially in times of heightened uncertainty.

Review the full statement on the IOSCO's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.