Corporate reporting in the time of COVID-19 : analysis of information disclosed by selected companies listed on the Warsaw stock exchange

Abstract

PURPOSE: The aim of the paper is to present the most important changes introduced in the balance sheet in the field of financial reporting and the impact of Sars-Cov-2 on the operating activities and financial results of selected companies from the Warsaw Stock Exchange (WSE).

DESIGN/METHODOLOGY/APPROACH: The article was prepared based on a review of domestic and foreign literature, market analyses of consulting companies such as Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers, reports, and recommendations issued by the Polish Financial Supervision Authority (UKNF), guidelines of the European Securities and Markets Authority (ESMA) and financial statements of selected stock exchange companies from the Warsaw Stock Exchange.

FINDINGS: The conducted research showed that Covid-19 had a significant impact on the financial data presented in the financial statements of selected companies from the Warsaw Stock Exchange. In the case of CCC SA, the management board was forced to issue shares to maintain liquidity. The results of banks show that individuals and enterprises repay their loans to a high degree, which may prove their good financial condition. The dangers of the coronavirus pandemic are still there. The analysis of the financial statements also showed that some companies ignored the risks associated with the pandemic.

PRACTICAL IMPLICATIONS: The article presents the impact of changes made in legal regulations and accounting regulations on the reported results and financial information.

ORIGINALITY/VALUE: The studies attempted to demonstrate the impact of COVID on the financial performance of enterprises.