U.K. Watchdog Urges Companies to Plan on Coronavirus Disruptions

The U.K.’s accounting watchdog warned Monday that the new coronavirus could lead to some companies delaying their financial results.

The Financial Reporting Council issued revised audit guidance in light of the crisis caused by Covid-19, as the virus is being called. It said auditors needed to find new ways of gathering evidence and should review companies’ disclosure of the risks stemming from coronavirus, as well as of their going concern statements.

Peter Timberlake, the council’s head of communications, said in an email that the FRC doesn’t have the authority to authorize companies to delay results beyond legal deadlines. Delaying ...