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Shock Absorber or Shock Amplifier? Spotting Good Governance in Fair Times and in “Covidian” Systemic Stress…

Shock Absorber or Shock Amplifier? Spotting Good Governance in Fair Times and in “Covidian” Systemic Stress…

A Guide to the fundamentals of sound Board governance

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..."