COVID-19 Guidance

This page is designed to provide links to relevant publications to support entities prepare their financial reports during and as a result of the COVID-19 outbreak.

Links to relevant third-party publications have been provided as an additional service. Please note that these publications have not been prepared by the AASB, do not represent the AASB’s views on the matters addressed nor are they endorsed by the AASB

Coronavirus AASB-AUASB Joint FAQ

The AASB-AUASB published the following FAQs on:


Coronavirus AASB FAQ

The AASB has also published the following FAQs addressing other common accounting questions as a result of COVID-19:


Amendments to Australian Accounting Standards

The following amendments to Australian Accounting Standards have been issued as a result of the COVID-19 pandemic:

Additional COVID-19 Guidance for Auditors

For more information about the impact of COVID-19 on the auditing process, please visit the Auditing and Assurance Standards Board's web page here.


IFRS Guidance

Title Issued By

Application of IFRS 9 in the light of the coronavirus uncertainty


IFRS 16 and covid-19: Accounting for covid-19-related rent concessions applying IFRS 16 Leases

Applying IFRS Standards in 2020 - Impact of Covid-19 IASB


Other Australian Regulator Guidance

Title Issued By
ASX live updates on COVID-19 ASX
ASIC to further extend financial reporting deadlines for listed and unlisted entities and amends ‘no action’ position for AGMs ASIC
COVID-19 Support Resources ATO
COVID-19 information ASIC
COVID-19 implications for financial reporting and audit: Frequently asked questions (FAQs) ASIC
Charity operations and COVID-19 ACNC
ACNC to conduct eligibility reviews ACNC
Listed@ASX Compliance Update – including Continuous Disclosure Obligations ASX
Temporary relief for financially distressed businesses Australian Government – The Treasury
APRA adapts 2020 agenda to prioritise COVID-19 response APRA


Professional Bodies

Title Issued By
Financial Reporting and Audit Guide: Financial reporting and audit issues stemming from COVID-19 CAANZ
COVID-19 Resources hub CAANZ
Reporting and audit implications of COVID-19 CAANZ
Q&A: Responding to COVID-19 reporting and audit challenges CAANZ
Responding to the challenges of COVID-19 CAANZ
Impacts of COVID-19 on reporting entities and auditors CPA Australia
Coronavirus (COVID-19) Business advice CPA Australia
Coronavirus (COVID-19) Impact, Resources And Support CPA Australia


Accounting Firm Guidance

Title Issued By
COVID-19: Financial reporting Australian resource centre on the financial reporting impacts of coronavirus. KPMG
COVID 19 - financial reporting publications PwC
Financial impact of coronavirus for upcoming financial statements Grant Thornton
Reporting the impact of COVID-19 Grant Thornton
Accounting implications of coronavirus (COVID-19) Grant
Impacts of the Coronavirus on Financial Reports BDO
Accounting, disclosure, and internal control considerations related to coronavirus disease 2019 Deloitte
Accounting considerations related to the Coronavirus 2019 Disease Deloitte

Expected credit loss accounting considerations related to Coronavirus Disease 2019

A diagnosis for your impairment assessment. The impact of COVID-19 Deloitte
Accounting considerations related to COVID-19 Deloitte
COVID-19 video series Deloitte
Accounting considerations of the coronavirus outbreak (Updated March 2020) EY
COVID-19 Resources EY
Financial Reporting Guidance under COVID-19 Crowe


Other International Guidance

Title Issued By
COVID-19: Ethics and Independence Considerations IESBA
COVID-19 Resources from IFAC's Network IFAC
COVID-19: Relevant IPSASB Accounting Guidance IPSASB
Statement on the Aapplication of the prudential framework
regarding Default, Forbearance and IFRS 9 in light of COVID-19 measures
Accounting implications of the COVID-19 outbreak on the calculation of
expected credit losses in accordance with IFRS 9
COVID-19 Resources ESMA
IOSCO Statement on Application of Accounting Standards during the COVID-19 Outbreak IOSCO
Covid-19: IFRS 9, capital requirements and loan covenants PDA



Information to be found in external publications provided by third parties has been produced without editorial control or contribution by the AASB. Any opinions, advice, statements, services, offers or other information or content made available within these publications remain those of the respective author(s) and the AASB is not responsible for any material posted by third parties. If viewing any of these publications as a source of advice, the AASB strongly recommends that you seek professional advice prior to taking any action.

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