How the Pandemic Shaped Financial Reporting, in Four Charts (1)

Auditors issued fewer warnings that U.S. companies risked going out of business in 2020 despite the lethal threat that the coronavirus pandemic posed to retailers, manufacturers, and hospitality businesses.

U.S.-listed companies generally adapted to an economic landscape reshaped by Covid-19. But the financial fallout may not be over yet as companies could still uncover and correct past errors in how they reported key figures for expenses and assets over the past year, according to an Audit Analytics report released Tuesday.

The study looked at key metrics commonly used to gauge the reliability ...