ASPE alert: Subsequent events and other considerations related to COVID-19

Published on: Mar 31, 2020

Should companies applying ASPE in Part II of the Handbook adjust annual financial statements issued in 2020 for the effects of COVID-19? The accounting treatment will depend on whether the financial statements cover a period that has been affected by COVID-19 or whether COVID-19 is a subsequent event.

Topics include:

  • when to disclose the effects of COVID-19 in the financial statements
  • when to adjust the financial statements for the effects of COVID-19
  • going concern matters
  • auditor considerations


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