After Corp Fin supplemented its COVID-19 disclosure guidance last month to suggest what information companies should be considering for pandemic-related disclosure, we have been hearing from members grappling with their quarterly disclosure controls processes for their upcoming reports. To capture reportable events throughout the business, some are relying on questionnaires.
In our webcast last week, “Coronavirus: Next Steps For Disclosure & Governance,” Keir Gumbs also emphasized that companies should be thinking about how the “work from home” environment is affecting internal controls and disclosure controls. In addition to the topics covered in Corp Fin’s guidance, a Deloitte blog suggests thinking about these potential issues:
– Store or facility closures
– Loss of customers or customer traffic
– The impact on distributors
– Supply chain interruptions
– Production delays or limitations
– The impact on human capital
– Regulatory changes
– The risk of loss on significant contracts
-Liz Dunshee, TheCorporateCounsel.net July 22, 2020
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