Analysis of the financial disclosure criteria for COVID-19 pandemic effects of Chilean and Peruvian listed companies
DOI:
https://doi.org/10.17533/udea.rc.n80a03Keywords:
COVID-19, Financial Disclosure, IFRS, Institutional TheoryAbstract
Under the framework of institutional theory, this qualitative research analyzes and describes the disclosure nature in the notes to the 2019 annual and 2020 interim financial statements of Chilean and Peruvian listed companies in the context of the COVID-19 pandemic. Despite the institutional influence of regulators and audit firms, the findings confirm that the level of disclosure on the impact of COVID-19 does not meet all the regulation and recommendation criteria. Although some companies disclose information on financial effects, a large number of them have been unable to quantify them, affecting compliance with the objective of IFRS financial information, useful for decision making. This has allowed to identify a mimetic or normative institutional influence of effective compliance with IFRS or audit firms’ recommendations.
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