March 23, 2020 / 10:37 AM / 8 days ago

UK companies delay results after regulators relax reporting rules

FILE PHOTO: The Canary Wharf financial district is seen from the construction site of 22 Bishopsgate in London, Britain June 25, 2019. REUTERS/Hannah McKay/File Photo

(Reuters) - British companies rushed to heed unprecedented calls by regulators to delay their results so they can better assess how the coronavirus outbreak is affecting their business.

The move by British regulators follows similar action in countries already harder hit by the virus. Authorities in Hong Kong and Spain have extended the deadline for annual reports by two months.

In China, where the impact was felt first, companies listed on the mainland stock markets have postponed filing annual reports as auditors struggle to sign off accounts after the government effectively closed businesses to slow the coronavirus outbreak.

Compiled by Yadarisa Shabong in Bengaluru; Editing by Josephine Mason and Barbara Lewis

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