April 22, 2024

GWS5000

Make Every Business

Credit ratings and COVID-19 | ICAEW

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Credit rating referencing and scores are remaining motivated by pandemic-connected factors, offering SME firms and their auditors plenty to consider about. Each economic statements and predictive data are made use of, but are audit reports becoming interpreted accurately?&#13

As we enter the subsequent period of the pandemic, organizations of all styles and measurements are searching nervously at their credit rating scores and wondering how they have been affected by the economic and enterprise issues and uncertainties of COVID-19.Who is keeping score and how?

There are quite a few queries to ponder. What information and facts is being utilized by credit score reference organizations? Do they all just take the identical method to credit rating scoring? Are authorities guidance steps acquiring an impression? What about extensions to filing deadlines, material uncertainty paragraphs linked to going worry in audit experiences, or knowledge about administrators? The listing of examples goes on and on.