Going concern assessment made in financial reports by management boards of listed real estate companies in Poland during the COVID-19 pandemic

Ewa Chrostowska
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Abstract

Purpose: The objective of this article is to determine how many real estate entities have tackled going concern problems, to identify the going concern uncertainties disclosures, especially during the COVID-19 pandemic, and to assess the going concern disclosures that have been made.Methodology/approach: The study involved the financial reports of real estate companies listed on the main market of the Warsaw Stock Exchange. 35 (out of 40) reports for the first half of 2020 were examined. The content of full versions of the descriptive parts of financial statements, reports on the auditors review, and management comment letters were analyzed.Findings: The way the disclosures are made can be a challenge. The managements analysis of the entitys situation involving significant judgments is of key importance. Reports on the auditors review may facilitate interpretation, especially because the way narrative, the variety of detail, and the location of the disclosures make inference difficult. The pandemic affected the scope of disclosures without increasing the number of entities disclosing uncertainties.Research limitations/implications: The research was limited to published, complete, half-yearly reports of listed companies of one sector, subject to review by the auditor. The issue of going concern disclosures is worth developing in future research of annual reports of various sectors, especially in the context of successive economic crises, including the war in Ukraine.Originality/value: As a practical study of disclosures, the article is the first empirical assessment of how going concern disclosures are made, revealing the role of significant judgments.
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新冠肺炎疫情期间波兰房地产上市公司董事会财务报告中的持续经营评估
目的:本文的目的是确定有多少房地产实体解决了持续经营问题,确定持续经营的不确定性披露,特别是在COVID-19大流行期间,并评估已经做出的持续经营披露。方法/方法:该研究涉及在华沙证券交易所主要市场上市的房地产公司的财务报告,对2020年上半年的35份(40份)报告进行了审查。分析了财务报表描述部分全文、审计人员审查报告和管理层意见书的内容。调查结果:披露信息的方式可能是一个挑战。管理层对涉及重大判断的实体情况的分析是至关重要的。审计人员审查的报告可能有助于解释,特别是因为叙述的方式、细节的多样性和披露的地点使推断变得困难。大流行病影响了披露的范围,但没有增加披露不确定性的实体的数量。研究局限/启示:本研究仅限于某一行业上市公司已发表的、完整的半年度报告,并须经审计师审核。持续经营披露的问题值得在未来对各个部门的年度报告进行研究,特别是在包括乌克兰战争在内的连续经济危机的背景下。原创性/价值:作为对披露的实践性研究,本文首次对持续经营披露进行实证评估,揭示了重大判断的作用。
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来源期刊
CiteScore
0.40
自引率
0.00%
发文量
8
审稿时长
14 weeks
期刊最新文献
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