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In response to COVID-19 epidemic, public companies should disclosure related financial information for interim financial reports

In order to enhance the transparency of financial information, public companies should comply with IAS 34 "Interim Financial Reporting" when preparing the 2nd quarter financial reports for fiscal year 2021. Meanwhile, as they assess the going concern ability, asset impairment, financing risk and other matters, they should consider the possible impact of COVID-19 epidemic on business operations and make appropriate disclosures on the footnotes of financial reports.
When the CPA audits/reviews the 2nd quarter financial reports of those companies, it is necessary to strengthen the assessment of whether the companies have appropriately applied the recognition, measurement and disclosure requirement of applicable standards. Besides, the CPA should obtain sufficient understanding of those companies, and perform appropriate audit/review procedures to issue proper audit/review opinions.

Contact: Mrs. Lin, Accounting and Auditing Supervision Division, Securities and Futures Bureau
Telephone: (02)2774-7191
Please direct all correspondence and inquiries to:FSCMAIL
Visitor: 1200   Update: 2021-06-08