• COVID-19 Effects on Private Enterprise Financial Statements

    Author: K&E Professional Accounting Associates | | Categories: Covid19 , Financialstatements , Privatecorporations

    Accounting Firm in Winnipeg

    COVID-19 and related government measures (including shutdowns, restrictions, and protective measures) are having significant impacts on Canadian companies.  CPA Canada issued an alert in March, 2020 to discuss Accounting Standards for Private Enterprises (ASPE), which are small and medium-sized companies that do not report their financial results publicly and their shares are not traded on a public stock exchange. The CPA Canada alert was for management to provide sufficient information on their private enterprise financial statements (including notes) with December 31, 2019 year-ends, when very few COVID-19 impacts were reported in Canada.  Management disclosure of post December 31, 2019 COVID-19 events…

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