Typically, public companies drafting their periodic reports must make a number of judgments, such as those concerning how to best describe the company’s outlook and risks, how to properly value assets, and whether to take an impairment (and, if so, the appropriate size). Covid-19 has created extraordinary challenges to management making those judgments—judgments that regulators are likely to scrutinize closely once the crisis is over—for the first quarter 2020 Form 10-Q.
