Telkom SA SOC Limited – Annual report – 31 March 2021
2. Significant accounting policies, judgements, estimates and assumptions
2.4.13 The assessment of COVID-19 as part of accounting judgements and sources of estimation uncertainty
COVID-19, the global pandemic which started in FY 2020, has continued to dramatically increase the risks collectively faced as a global community and has materially damaged the global and local economic prospects. While Telkom continues to drive the execution of its strategic objectives, the Group considers the impact of the situation as it unfolds and prudently manages its human capital and operational and financial risks.
Management has considered the impact on the Group by taking a variety of risk elements into account, which include considering macro-economic factors, contractual obligations and supply chain impacts.
Management has considered all the possible financial effects the virus could have on the measurement, presentation and disclosure in the annual financial statements. Key areas are considered in the table on the following page: