EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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There are various ways that this information can be communicated. Some entities are providing new APMs in addition to those provided in previous periods, or they may decide to adjust existing APMs in order to incorporate the impact of the pandemic. Others may elect to provide detailed disclosures with explanations of how the pandemic has impacted their performance, or is expected to impact it in future periods, without introducing new, or adjusting existing, APMs.
The EY publication, Applying IFRS: Impact of coronavirus on alternative performance measures and disclosures looks at the accounting and regulatory requirements for APMs and ways of reflecting the impact of COVID-19 on APMs and disclosures.
It discusses the requirements of accounting standards and regulators, including the need for APMs to be unbiased, not given undue prominence and accompanied by comparative information for prior years.