The scope of this work consists of the study of COVID-19 as a subsequent event in the 2019 annual financial statements of companies in the Portuguese Stock Index (PSI 20®) and the impacts disclosed of this phenomenon in the first half of 2020. The information used came essentially from the reports and accounts (annual and interim), the audit reports (annual and interim) and Euronext. However, for a reliable understanding of this information, the analysis was supported by normative information on the theme of subsequent events (with emphasis on IAS 10 and ISA 560), as well as by guidelines and standards issued by different national and international organizations, to assist the specific treatment of COVID-19. In the financial statements of 2019, the pandemic caused by the new coronavirus was disclosed as a subsequent non-adjustable event, which does not require adjustment in the accounts, but only disclosure. The consequences of this event were only materialized in the year 2020, in which, due to the size and severity of the impact of this phenomenon, a section COVID-19 was included in the reports and accounts of the first semester. For most PSI 20® listed companies, the consequences were negative, such as the decrease in their results, stops and/or decreases in activity, among other consequences analyzed in the present study.
|Date of Award||6 Jul 2021|
- Universidade Católica Portuguesa
|Supervisor||Manuel Ricardo Fontes da Cunha (Supervisor)|
- Subsequent events
- PSI 20®
- Mestrado em Auditoria e Fiscalidade