Britain eases financial reporting rules during epidemic

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“These measures are aimed at ensuring that banks are able to continue to lend to households and businesses, support the real economy, and provide robust and consistent market disclosures,” Bank of England Deputy Governor Sam Wood said.

The Financial Reporting Council and the Financial Conduct Authority also unveiled measures.

“It addresses the difficulties companies currently face in making forward-looking judgments in their financial statements: for example, in strategic reports and viability statements, with a focus on appropriate disclosure of material uncertainties and going concern issues,” the FRC said.

The FCA said it will allow listed companies which need extra time to complete their audited financial statements an extra two months to publish them.

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