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SEC Chair advises on coronavirus impact on disclosures

Hot Topic | February 2020

KPMG provides considerations for companies conducting business with or in China as they assess impacts of coronavirus.

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SEC Chairman advises companies to monitor current and potential effects of coronavirus on disclosures. KPMG provides reporting considerations for companies conducting business with or in China as they assess the impact of coronavirus on their SEC reporting obligations.

Resource
Extended relief for companies affected by COVID-19
Updated: SEC filing deadlines further extended for companies impacted by the COVID-19 outbreak.
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Applicability

  • All companies

Relevant dates

  • Effective immediately

Key impacts

  • Companies need to continuously assess the impact the coronavirus outbreak may have on: 
    • Required reporting, including periodic disclosures
    • Accounting and financial reporting, including subsequent events
    • Access to information in China
    • Internal controls over financial reporting 
    • Filing deadlines.
  • On February 19, 2020, the SEC issued a public statement on financial reporting considerations and the potential availability of regulatory relief related to the impact of the coronavirus.
  • Companies should continue to monitor information coming from the SEC staff.

Report contents

  • Background and SEC Chairman statement
  • What should companies consider? 
  • Evolving information

External resources

SEC coronavirus (COVID-19) response site

Download the document:

Coronavirus

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Meet our team

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Timothy Brown
Partner, Dept. of Professional Practice, KPMG US
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Lisa Blackburn
Partner, Dept. of Professional Practice, KPMG US
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Lindsey Freeman
Managing Director, Dept. of Professional Practice, KPMG US
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Erin McCloskey
Partner, Dept. of Professional Practice, KPMG US
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Timothy Brown
Partner, Dept. of Professional Practice, KPMG US
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Image of Lisa Blackburn
Lisa Blackburn
Partner, Dept. of Professional Practice, KPMG US
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Image of Lindsey Freeman
Lindsey Freeman
Managing Director, Dept. of Professional Practice, KPMG US
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Image of Erin McCloskey
Erin McCloskey
Partner, Dept. of Professional Practice, KPMG US
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