The Coronavirus outbreak has brought challenges to almost all entities in various areas, including human resources, business activities and operations. The outbreak poses great challenges to auditors in completing the audits for the year ended 31 December 2019 and execution of audits of subsequent year ends.
This article highlights some specific issues which are anticipated to pose an impact on a client’s business and audit risks. Auditors are encouraged to consider the highlighted areas when performing risk assessments and formulating the appropriate audit strategy and plan.