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Working and Wellbeing
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ACCA Call to Action as 80% Expect ‘Significant Downturn’
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Economic Impact of Covid-19 and the Policy Response
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2019 Financial Statements

IFAC's Financial Statements are prepared in accordance with International Public Sector Accounting Standards^® (IPSAS^®) and include an independent auditor’s report.

Apr 20, 2020

IFAC

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Going Concern: Key Considerations for Financial Statement Preparers During this Pandemic
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ICAI Global Webinar: Impact of COVID-19 Pandemic on Reporting and Assurance
Attractiveness of the Profession Professional Accountants in Business (PAIB)

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- Developing future-ready professionals
- CFO & Finance Function
ISCA: Accounting Implications Arising from COVID-19 for Entities with 31 December 2019 Financial Reporting Date
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ICMAI: Treatment of Various Items of Cost in Light of the COVID-19 Pandemic
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Why Audit Committees Are So Important During the COVID-19 Crisis
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Joint Message From the Chairs of the IAASB and the IESBA

Apr 3, 2020 English
The COVID-19 pandemic is a global health and humanitarian crisis. Beyond the significant challenges that lay ahead in all facets of life, it also poses unprecedented risks to the world economy. The International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) are committed to doing our part to support a strong global response.
IAASB and IESBA are committed to continuing our work, albeit virtually, and seizing opportunities to adapt how we work, and what we work on, considering global needs and priorities.
In the short-term, we have transitioned to fully digital platforms to execute day-to-day work, plenary meetings and stakeholder outreach. In addition, we are developing, or will consider commissioning and/or sourcing reference materials, as appropriate for each Board, to help our stakeholders continue their work. To that end, we will be creating web resources on each board’s website with COVID-19 related messages and materials.
We are coordinating with the Public Interest Oversight Board (PIOB), regulatory authorities, and national standard setters on our approach. We are also discussing with the PIOB the best way to balance timeliness and the very real operational constraints many stakeholders face. These discussions will consider our stakeholders’ ability to provide feedback according to existing timelines and whether flexibility is required.
We are adapting rapidly and trying to be sensitive to many difficulties. We will place a priority on remaining closely linked with all our stakeholders during these trying times and will continue to review our response, as we may not get it right the first time, and may need to adjust further as the global situation changes. The IAASB, IESBA, and their staff stand ready to help where and when possible.
We continue our work for the public interest. We understand the unprecedented crisis will bring unprecedented challenges. And we will meet them with a decisive and timely response.