27 ASX companies just got an unwanted knock on the door

The corporate regulator has revealed it’s had to make enquiries with 27 ASX listed companies about their 2020 financial reports.

The Australian Securities and Investments Commission (ASIC) announced Thursday that it had reviewed financial reports for the year ending 30 June 2020 for 170 listed companies.

This resulted in the regulator contacting 27 companies regarding 58 different matters to demand a ‘please explain’.

Issues around disclosures about the effect of COVID-19 dominated this year’s enquiries.

“Many companies made useful and meaningful disclosures on the impact of COVID-19 conditions. However, some entities with businesses adversely affected by the pandemic did not appear to give sufficient attention to the…