July 24, 2024

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Credit ratings and COVID-19 | ICAEW

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Credit referencing and ratings are currently being motivated by pandemic-connected components, offering SME firms and their auditors plenty to believe about. Both equally monetary statements and predictive data are applied, but are audit stories staying interpreted correctly?&#13

As we enter the future phase of the pandemic, organizations of all designs and sizes are seeking nervously at their credit score scores and thinking how they have been afflicted by the financial and business issues and uncertainties of COVID-19.Who is keeping score and how?

There are a lot of inquiries to ponder. What information and facts is staying applied by credit reference agencies? Do they all choose the similar approach to credit history scoring? Are government assist actions obtaining an effect? What about extensions to submitting deadlines, product uncertainty paragraphs similar to likely issue in audit reports, or knowledge about directors? The checklist of examples goes on and on.