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Accounting implications of coronavirus

Note: See our 23 March 2020 publication Accounting implications of the effects of coronavirus for more detailed information.


The COVID-19 coronavirus is a tragedy of currently unknowable proportions, bringing devastating consequences for individuals, families and communities far beyond its epicentre. As well as the immeasurable social impact, the spread of the virus since early January is affecting business and economic activity, with flow-on implications for financial reporting.

In this publication we address the accounting implications of the coronavirus for December 2019 year ends in the context of AASB 110 Events after the Reporting Period. In our view, the development and spread of the virus subsequent to 31 December 2019 is a non-adjusting event.

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Paul Shepherd

Paul Shepherd

Partner, Accounting Consulting Services, PwC Australia

Tel: +61 2 8266 7104

Erin Craike

Erin Craike

Partner, Accounting Consulting Services, PwC Australia

Tel: +61 415 598 440

Margot Le Bars

Margot Le Bars

Partner, Accounting Consulting Services, PwC Australia

Tel: +61 3 8603 5371

Paul Brunner

Paul Brunner

Partner - Capital Markets, Accounting Advisory and Structuring, PwC Australia

Tel: +61 2 8266 4664

Adele Smith

Adele Smith

Partner, Accounting Consulting Services, PwC Australia

Tel: +61 7 3257 5074

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