How auditing should reflect the pandemic

Gordon B. Johnson

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Audit data files require to reflect the problems and uncertainties of the pandemic. Peter Herbert implies crucial parts of emphasis, which include impairment, materiality, letters of help, COVID-19 assistance techniques, information manufactured by the entity and skilled scepticism.&#13

Audit corporations have been battling with the outcomes of the pandemic for some time and it carries on to pose major problems. Amongst these is the autopsy phase, when audit quality from the pandemic is place underneath the spotlight for the duration of inside and external file review procedures.

Progressively, pandemic-impacted audit data files are remaining subjected to cold file testimonials, and documentation is a important area of concentrate. It constantly has been. This is evidenced by the conclusions incorporated in ICAEW’s Audit Monitoring Report 2020  and earlier checking experiences.

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