Featuring an introduction from ASIC Chair James Shipton, the guideis a valuable resource for directors of all entities, large or small, listed or unlisted, for-profit, not-for-profit and government, as they approach reporting season.
Guidance for directors
The guide will assist directors who are:
assessing the impacts of COVID-19 on their entity
oversighting good practice in the preparation of their annual report
considering what to disclose around COVID-19 in the directors’ report and/or operating and financial review
examining questions around liability, risk and forward-looking statements in disclosures
assessing going concern and solvency
COVID-19 related considerations impacting financial statements
engaging with auditors over the reports.
It provides key questions and tips for directors dealing with management and auditors around the financial statements and uses case studies to illustrate key points around disclosures in financial reports.
The AICD has a webinar on this topic with an expert panel (held on 23 July 2020), complimentary for AICD members. A recording can be accessed at the link below.
The AICD, CA ANZ and CPA Australia wish to acknowledge the following firms who assisted with the preparation of this Guide: Corrs Chambers Westgarth, Herbert Smith Freehills, Gilbert + Tobin, KPMG and Deloitte.