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The study aimed at clarifying the mechanism of addressing subsequent events after the reporting period according to the International Accounting Standard (IAS) No. (10) in light of Covid-19. The study examined the impact of Covid-19 on adjusting events occurring after the reporting period. To reach the results, the study developed a questionnaire that included paragraphs about each of the study’s independent variable (Covid-19) and the dependent variable (adjusting subsequent events after the reporting period).
The study population consisted of Jordanian public shareholding companies listed on the Amman Stock Exchange. A simple, random sample was selected, consisting of 53 companies that fulfilled the conditions required for the purposes of preparing the study, and was adopted as a sample representing the population. Meanwhile, the sampling unit was represented by the financial managers and internal audit managers of the companies of the study sample.
Two questionnaires were distributed for each company with a total of (106) questionnaires. (75) questionnaires were retrieved, of which (64) were valid and adopted for analyzing and reaching the results of the study, which depended on a set of statistical measures such as descriptive statistical measures and the simple linear regression analysis to analyze the responses of the sampling unit to the paragraphs of the questionnaire related to the study’s variables and to test the study’s main hypothesis.
The study concluded that there is a statistically significant impact of Covid-19 on adjusting events occurring after the reporting period according to the IAS No. (10)-events after the reporting period.
The study, through previous studies and literature, reached a group of results, the most important of which is to consider the events after the reporting period for the year (2019) as non-adjusting subsequent events that need to disclose the effects that are considered essential. The study also presented a set of suggestions that contribute to increase the ability of professional organizations and entities in determining the optimal way of addressing the subsequent events after the reporting period in preparing future financial statements.
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In-Text Citation: (Al-Bishtawi & Al-Harasees, 2022)
To Cite this Article: Al-Bishtawi, S., & Al-Harasees, M. N. (2022). Subsequent Events under COVID-19 Pandemic. International Journal of Academic Research in Accounting Finance and Management Sciences, 12(2), 25–43.
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