Leaders of the Securities and Exchange Commission and the Public Company Accounting Oversight Board issued a joint statement Wednesday about the impact of the coronavirus on audit firms trying to operate in China.
The disease hasn't spread widely to the U.S., but some institutions are taking steps in case of an outbreak.
The Financial Reporting Council issued guidance Tuesday about the disclosure of risks surrounding the coronavirus, and is discussing with audit firms whether the virus will affect their ability to review audits in China.
Technology can help protect employees’ health as well as safeguard business interests from virus-related impact and loss.
Other global health threats, such as SARS, did not have long-term impact on stocks. COVID-19 might be another matter.
Fear and worry are rampant. One client asked if any other client had recently returned from China.
A flight to safety that saw funds in short-term bonds and utilities add cash as coronavirus dominated headlines has given way to a vigorous rally.
While the deadly virus threatens to harm the world economy, the funds have remained popular as the Fed signals low rates for the foreseeable future.
