The COVID-19 pandemic is a challenging obstacle for auditors (Illuzzi, Landes, & Groskopf, 2020). Due...
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The COVID-19 pandemic is a challenging obstacle for auditors (Illuzzi, Landes, & Groskopf, 2020). Due to travel restrictions, auditors cannot assess physical inventories (Illuzzi et al., 2020). The AICPAs Center for Plain English Accounting issued a report on COVID-19 challenges (Illuzzi et al., 2020). In some cases, camera systems and live video feeds are useful solutions for virtual attendance at inventory counts; however, a scope limitation is a potential when audit risks cannot be reduced to an acceptable level using alternative options (Illuzzi et al., 2020).
What are other potential auditing challenges arising from the COVID-19 pandemic highlighted in the report?
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