Download PwC's illustrative consolidated financial statements, containing illustrative disclosures for as many common scenarios as possible. The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020.
After several years of major changes, there are only a few revisions to the financial reporting requirements that we had to illustrate in these example financial statements. The publication is not providing any illustrative examples or guidance relating to the effects from the COVID-19 pandemic. While most entities have been affected by the pandemic the impacts are different for each company. Financial statements preparers are encouraged to consider publications from regulators such as from the European Securities and Markets Authorities (ESMA) when assessing how to appropriately explain the COVID-19 impacts on the financial statements. ESMA published its enforcement priorities for 2020 annual reports. ESMA, together with national enforcers, will pay particular attention to these topics when assessing the annual reports of EU-listed companies. The publication should be helpful not only for EU-listed companies but also to financial statements preparers in general as it contains specific recommendations relating to several areas that are presumably impacted by the pandemic.
