Full-year results risk delay due to Covid

  11 January 2021

Major listed companies may have to delay their results due to auditors facing a backlog of work amid the latest Covid-19 lockdowns. Staff are under pressure due to school closures during peak auditing season, as almost half the companies on the stock market are drawing up year-end results.

The big four accounting firms have warned that many finance professionals are reducing their working hours due to school closures. The Sunday Times reports city watchdogs are already in talks over the “mounting concerns”.

Several regulators are understood to be planning a joint statement within days, urging finance executives and auditors to “communicate swiftly if they have any difficulties publishing on time”.

There are also challenges in determining whether companies are fit for going concern certification, due to uncertainty over how long the latest lockdown will last.

During the first lockdown, the time given for companies to report was extended from four months to six. This guidance still stands but further clarification is expected this week.

https://bit.ly/3q7g2IM

Start your free 14 day trial

Get free access to our Bulletin, Agenda & Profit for 14 days.

After 14 days we will auto bill your credit or debit card unless the order is cancelled.


    As an auto retail executive you need insightful and unique industry intelligence to boost your business potential. Here’s a taste of what Auto Retail Network has to offer:

    • Get informed and boost your business potential
    • More than 1,200 fellow executives have joined us
      since launch
    • Independent, carefully crafted, unique content relevant to you and your business
    • Develop a greater awareness of market trends and opportunities
    • Access to a wide range of materials whenever, wherever and however you want it
    • Significant discounts on ARN events, reports and
      other publications