Financial reporting and COVID-19 implications

Quarterly and annual reporting is a regulatory requirement, and perhaps even more important to your investors, shareholders and stakeholders during this time of COVID-19.

What you should be considering

  • How will your Management’s Discussion & Analysis and Financial Statements be impacted in the current environment? What sort of material disclosures and risk factors need to be updated?
  • Will you need to revise, suspend, or withdraw your guidance until you have more information about how your business may be impacted?
  • The TSX/TSX-V is providing relief from requirements for issuers to notify them if an extension of time to file certain financial statements is needed. Are you eligible? Should you defer? Official Notice
  • Conference calls are a great way to deliver your updates and answer investor questions. However, you will need to be prepared for a new set of questions regarding COVID-19. Here are some questions that you could be asked:
    • What measures are you taking to ensure business continuity?
    • Does your business have an emergency succession plan in place if key executives fall ill?
    • Do your employees have the ability to work from home? For how long?
    • How are you avoiding the spread of COVID-19 in your workplace or with your clients?
    • What does your cash flow look like? How strong is your balance sheet? What impact will COVID-19 have on your key financial and performance metrics?
    • Has your long-term outlook changed due to COVID-19?

How we can help

We are here to help you work through these issues and prepare to successfully answer the tough questions related to COVID-19 and your business. Our team of capital markets and crisis communication experts can help you prepare for your financial reporting and develop the communication solutions you need for your business.

COVID-19: We’re here to help you