The United Kingdom's Financial Conduct Authority (FCA) has requested all listed companies to "observe a moratorium" on the upcoming announcement of the preliminary financial accounts for at least two weeks, according to a statement published on the FCA's official website.
According to the statement, "the unprecedented events of the last couple of weeks mean that the basis on which companies are reporting and planning is changing rapidly. It is important that due consideration is given by companies to these events in preparing their disclosures".
FCA requests a delay to the forthcoming announcement of preliminary financial accounts https://t.co/5OTy0G5o33 #FCAupdate
— Financial Conduct Authority (@TheFCA) March 21, 2020
The statement added that the listed companies and the audit profession are facing brand new challenges amid the coronavirus crisis.
As of today, the new coronavirus disease (COVID-19) has affected more than 180 countries. The World Health Organisation (WHO) declared the COVID-19 outbreak a pandemic on 11 March.
