Description

As the COVID-19 virus spreads, CPA firms are working to identify unique and innovative ways to ensure staff follow auditing standards while working remotely. This can present a challenge especially when organization employees are spread out in various locations and also working remotely. The ability to make requests, access information, conduct interviews and review documents all create challenges when ensuring the audit work follows audit standards and best practices.

The challenges faced by CPA firms in some respects can be unique due to the sensitivity and importance of financial reporting as well as internal controls over financial reporting. This extends from efforts such as examining accounting processes that may need extra attention to adequately performing internal control risks assessments and maintaining strong documentation practices. It also extends to the potential increased risk for fraud due to the changing economic landscape.

Who Should Attend:
– CPA firm staff, management and partners.
– Organizational client management who need to understand the requirements of an effective audit.