The Department of Assurance and Advisory to Financial Institutions at FBK Grant Thornton has opened a series of webinars titled “Auditors’ Approaches to Audits of Financial Statements Prepared by Financial Institutions for 2020”.
The first online meeting was held on 28 January and dedicated to changes in IFRSs that need to be taken into account in financial statements compiled amid COVID-19.
Maksim Chikishev, the Head of Advisory to Insurance Companies, underlined that it is important to analyse the applicability of the going concern principle, which is difficult amid the pandemic.
In his turn, Dmitriy Popov, a Senior Expert, said, “The main assessment factor for the impact of COVID-19 will be an analysis of changes in the credit risk of counterparties. In the current economic environment, a situation when a counterparty’s credit risk does not change and remains low is unlikely.”
Recordings of most webinars are available in the Events section of our website where you can find materials useful for businesses, especially during lockdown restrictions.
You can watch the video recording here https://youtu.be/37uUtnDDVHo