Important COVID-19 information - impact and our response

This presentation aims to highlight the accounting implications of the ongoing COVID-19 pandemic and the key considerations for businesses across the GCC, both in case of finalization of 2019 financial statements or preparing the 2020 financial records.

The COVID-19 pandemic has wreaked havoc across the world and brought humanity to a self-isolating stand still. Whereas the numbers of infected individuals climb steadily above and beyond a million (and counting), the markets across several business sectors around the world are plunging to an all-time low – the likes of which are only comparable to the great depression.

The economic implications are slowly revealing their face, but the world is still bracing to feel the full brunt of the pandemic impact. As accountants, we are the gate keepers of business performance, it is our duty to ensure we are reporting the right numbers and providing the right insight and making the right judgements to the best of our abilities, in these uncertain times to our stakeholders.

In this presentation, we cover:

  • Financial Management
  • Going Concern
  • Impairment Assessment
  • Expected Credit Loss
  • Subsidies and Benefits
  • Silver Lining

To find out more, download our presentation: