Credit ratings and COVID-19 | ICAEW

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Credit score referencing and ratings are becoming motivated by pandemic-related elements, giving SME providers and their auditors lots to think about. Both financial statements and predictive info are made use of, but are audit reviews remaining interpreted accurately?&#13

As we enter the up coming phase of the pandemic, businesses of all styles and sizes are seeking nervously at their credit history scores and wanting to know how they have been afflicted by the economic and organization troubles and uncertainties of COVID-19.

There are numerous issues to ponder. What facts is staying used by credit score reference businesses? Do they all take the same approach to credit history scoring? Are governing administration guidance actions having an effects? What about extensions to filing deadlines, materials uncertainty paragraphs similar to likely problem in audit reviews, or facts about administrators? The checklist of examples goes on and on.