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Discuss the impact caused by the covid pandemic

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Reference no: EM132698795

First reported to the World Health Organization as an unknown virus in late December 2019, coronavirus/COVID19 developments throughout 2020 are causing great uncertainty for the global economy.

  • This uncertainty is creating risks that audit clients may not have encountered before.
  •  It also gives rise to new and rapidly changing conditions that auditors may not have previously encountered.

REQUIRED

Travel restrictions

Problem 1. What impediments do travel restrictions present to auditors when auditing the client's financial report (i.e. accounts)?

Financial impact

Problem 2. Identify and briefly discuss the impact caused by the COVID19 pandemic on any five (5) accounts/areas of the client's financial report.

Reference no: EM132698795

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