that led to the stock market crash and country-wide lockdown
in Malaysia has impacted
the preparation of financial statements in significant ways. What are these implications? For
clarity and easy reading, we have tabulated the important dates involved as
well as their impact on the various items in financial statements.
The important dates that impacted financial statements due to the COVID-19 pandemic are as follows:
The financial statement items above will impact which industries the most?
To answer this, we set out below our views on how various industries in Malaysia will be affected.
The COVID-19 pandemic will affect financial statements in many significant ways. We detail below these issues and the procedures that auditors need to undertake to assess their veracity:
Accounting and Audit Implications of COVID-19