The increased risk and uncertainty in the current environment of COVID-19, along with the physical challenges of working remotely from isolation poses increased challenges to your auditors. Not only will coronavirus change the way that you have to interact with your auditors and what they require from you in order to complete your audit, there are potential impacts on final audit reports and other deliverables to you as well.
When preparing for the audit this year:
Auditors are modifying their evidence gathering techniques to adapt to the current environment. Their current focus is on the following:
What are the impacts of business restructures and changes to sales, purchase and lease contracts?