Commenting on today's Statement of Policy from the FCA, FRC and PRA on 'Delaying annual company accounts during the coronavirus crisis',
Hemione Hudson, Head of Audit at PwC, said:
"We welcome this coordinated response from the regulators to help ensure that high quality information continues to flow to the capital markets. The FCA, FRC and PRA recognise the challenges faced by directors, auditors, investors and lenders in these unprecedented circumstances. We will help the companies we audit make sensible decisions following a review of planned reporting timetables. Company directors and auditors will all need to perform more work on going concern judgements, and there is a greater likelihood of modifications to audit opinions during this period of disruption."
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