Covid-19 and Going Concern: Guidance for Directors of SME businesses

Alongside other major accounting firms, we are pleased to have supported on the development of the ICAEW / ICAS Covid-19 and Going Concern practical guide, to help directors of SMEs prepare their accounts at this time of unprecedented change.’ This guide details how directors can make a formal assessment of their business’ ability to continue trading in line with their responsibilities as directors when preparing accounts.

In particular, it provides useful guidance on how to reflect the impact of Covid-19 on cash flow forecasts, and specific factors to look out for, when there are so many unknowns.

Please read our attached report below and if you would like to know more about anything discussed, please get in touch here.