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SEC Chief Accountant on Importance of High-Quality Financial Reporting in Light of Covid-19

On April 3, 2020, the Office of the Chief Accountant (OCA) issued a statement[1] regarding the importance of high-quality financial reporting in light of the significant impacts of COVID-19.[2]  At that time, in addition to facing a number of operational and other challenges, many public companies were in the midst of their first quarter financial reporting process, working through accounting and financial reporting issues related to the impact of, and uncertainties related to, COVID-19.  In this time of unprecedented uncertainty, because of the diligent efforts of so many, our financial reporting system has continued to serve its critical

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