IFRS Bulletin 2020-09
03. Juli 2020
The 2019 Novel Coronavirus infection (‘coronavirus’) or ‘COVID-19’ outbreak poses a serious public health threat. It has interrupted the movement of people and goods throughout the world, and many levels of government have instituted restrictions on individuals and businesses. The resulting impact on financial reporting will be significant.
BDO has issued the following publications on coronavirus that address the reporting implications in broad terms:
- IFR Bulletin 2020/02 – Potential effects of the Coronavirus Outbreak on 31 December 2019 year-end financial reporting;
- IFR Bulletin 2020/03 – Potential effects of the Coronavirus Outbreak on 2020 reporting periods and onward;
- IFR Bulletin 2020/07 – Impairment implications of COVID-19 (IAS 36); and
- IFR Bulletin 2020/08 – IASB issues amendments to IFRS 16: COVID-19 related rent concessions.
This IFR Bulletin focuses on the financial reporting implications of COVID-19 that relate to the expected credit loss (‘ECL’) requirements of IFRS 9.
For further resources on applying the requirements of IAS 36 and IFRS 9, please refer to external resources such as IFRS In Practice publications, other IFR Bulletins and online training, which are available on BDO’s IFRS Reporting Hub.
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