IAASB compiles COVID-19 resources for auditors

08 March 2022
Auditing and Assurance
South African Accounting Academy

There are 6 resources, assembled by the IAASB staff in the form of Staff Alerts, that have been included to help stakeholders, and the larger accounting community, navigate some of the challenges ahead:

Accounting Considerations arising from changes due to COVID-19 (March 2020)
Accounting Estimates (June 2020)
Going Concern (Apr 2020)
Subsequent Events (May 2020)
Auditor Reporting (May 2020)
Interim Reporting (June 2020)

Click here to access these Resources:

https://www.iaasb.org/focus-areas/guidance-auditors-during-coronavirus-pandemic

Relevance to Auditors, Independent Reviewers & Accountants:

As an auditor and independent reviewer, you need to consider additional consequences as a result of the COVID-19 pandemic, and the effect that it has had on your client’s financial and operating environments.
During the COVID-19 pandemic, audits should continue to comply with the required standards, which may necessitate different and enhanced considerations by auditors in the current circumstances. Auditors may need to consider developing alternative procedures to gather sufficient appropriate audit evidence to support their audit opinion, or to modify the audit opinion.

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