Coronavirus-hit UK Companies Asked To Delay Financial Statements

International Business

The Financial Conduct Authority on March 21 asked listed British companies to delay their financial statements for at least two weeks due to coronavirus.

Written By Shubham Bose | Mumbai | Updated On:
Companies asked to delay submission of financial statements

The Financial Conduct Authority on March 21 asked a few British companies to delay their financial statements for at least two weeks. This decision was taken so that authorities may better assess the impact of the coronavirus epidemic on their businesses. The United Kingdom has reported 5,683 positive coronavirus deaths as well as 281 deaths.

According to reports, the FCA has strongly requested all listed companies to observe a moratorium on the publication of preliminary financial statements for at least two weeks. The British government has also ordered all shops, restaurants and other public places to close down and has also advised people to avoid all non-essential travel.

Tougher measures likely

United Kingdom Prime Minister Boris Johnson warned on March 22 that his government would impose stricter measures to curb the spread of novel coronavirus COVID-19 if people do not follow the guidelines on social distancing. According to the reports, pubs, clubs and gyms have been shuttered in the UK but social media on Sunday was flooded with people gathering in parks and food markets while ignoring government advice to stay two metres apart. Johnson, in a news conference at Downing Street, urged people to follow the government's advice and practice social distancing.

Boris Johnson expressed concern over escalating cases of coronavirus in the UK and added that the government would not hesitate to further stricter measures if people fail to heed to advice. According to the reports, the latest official statistics show the number of confirmed coronavirus cases rose to 5,683 on March 22 with 665 new cases and 48 new deaths.\

Read: Boris Johnson Seeks Antibody Tests To Contain Coronavirus Spread In UK

Read: COVID-19: Boris Johnson's Father Slammed For Saying He'll Go To Pub Despite UK PM's Advice

The numbers significantly spiked from 5,018 on March 21 which suggests that they are now rising more rapidly in Britain than they did in either China or Italy at the same stage. British Prime Minister Boris Johnson on Sunday, March 22, said that the number of deaths and infections in the UK was continuously rising adding that they cannot ‘disguise or sugarcoat the threat' of the COVID-19 outbreak. He also said the current situation in the country was similar to what was in Italy two or three weeks ago. 

Read: PM Modi Talks To British PM Boris Johnson, Discuss Coordinated Efforts To Tackle COVID-19

Read: UK: Boris Johnson Asks People To Heed Govt Advice, Warns Against Tougher Coronavirus Curbs

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