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Coping with COVID's Threat to Audit Quality

Coping with COVID's Threat to Audit Quality

"...The ability of entities to obtain data essential to the preparation of financial statements is considerably affected, particularly for those with significant operations in countries severely affected by COVID-19. This will result in delays in receiving financial data from subsidiaries or components for group audits and will be further exacerbated as more and more audit firm employees shift to working remotely. In some countries, secondments from other jurisdictions – relied on by audit firms to meet demand in busy periods – have been curtailed.

In such testing times, auditors are looking to develop and leverage alternative procedures to audit clients’ financial statements. By harnessing available technology, they may be able to better fulfil their audit obligations, mandatory isolation notwithstanding..."

A Compelling Analysis of Key Tensions of Corporate Governance using the recent USS Theodore Roosevelt COVID 19 Controversy

A Compelling Analysis of Key Tensions of Corporate Governance using the recent USS Theodore Roosevelt COVID 19 Controversy: A Must Read for Directors and Senior Management

" The controversy surrounding the USS Theodore Roosevelt has been something of a media soap opera, involving an extraordinary mix of issues concerning public health, national security, politics and military tradition. The story evolves on a daily basis and, as with many controversies, the real facts seem somewhat elusive. Frustrating to the participants, to the casual observer it’s nearly as confusing as it is fascinating. And it’s not over yet.

But to those involved in corporate governance, it offers an extraordinary teaching opportunity on important principles that benefit from ongoing conversation. These include board responsibility for workforce culture and safety, dualities of loyalties of interest, compliance oversight and the preservation of whistleblower rights..."