We review the proposed areas of focus and questions for consideration when assessing the impact of COVID-19 on financial statements.
On 22 May 2020, the Accounting and Corporate Regulatory Authority (ACRA) issued the Financial Reporting Practice Guidance No. 1 of 2020 to help directors in their review of upcoming financial statements. In our first article, we look at the proposed areas of review focus by directors on the financial statements affected by the COVID-19 pandemic and the questions for directors’ consideration when assessing the impact of the COVID-19 pandemic on financial statements.
With effect from 1 June 2020, the Singapore Exchange Regulation (SGX RegCo) has removed the minimum trading price (MTP) rule for issuers listed on the Mainboard (Mainboard issuers) and refined the criteria for exiting the financial watch-list. In our Regulatory updates section, we discuss this change and the two provisional measures announced by the SGX RegCo to support Mainboard issuers amid the challenging business and economic climate due to the COVID-19 outbreak.
