Assessing potential COVID-19 impacts on financial statements: Questions and considerations to ask under ASPE

Learn about COVID-19 related questions and considerations financial statement preparers and practitioners under Accounting Standards for Private Enterprises (ASPE) in Part II of the CPA Canada Handbook – Accounting.

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This ASPE alert provides questions to ask and other considerations for financial statements preparers and practitioners under various sections of Part II of the Handbook to identify potential impacts on financial statements resulting from the COVID-19 health pandemic.

Topics include:

  • going concern
  • subsequent events
  • impairment of assets
  • financial instruments
  • revenue
  • other considerations