Beyond the GAAP no. 142 - March 2020

Our last editorial touched, without wanting to believe it, on the wide repercussions we could expect from the coronavirus outbreak.

A few days later, with half the world’s population now under lock-down (whether enforced or encouraged), this month’s news has necessarily taken on a distinct flavour all its own. This is why we have produced a ‘COVID-19 supplement’ to examine the impacts of the crisis on 2019 reporting (for those entities still concerned!), and on the annual reporting that does not coincide with the calendar year and on the 2020 interim accounts.

While the crisis is absorbing a good deal of energy, the IASB has so far made only minor adjustments to its calendar and work plan. March, for example, saw the publication of a discussion paper on goodwill and impairment, to which we will return later in more detail. We also present the conclusions of the redeliberations on IFRS 17 amendments. The mandatory effective date of this standard has now been set at no later than 1 January 2023.

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