The Impact of COVID-19 on Audit Practices and Auditors: An Analysis of Global Contributions

The purpose of the study: Explain the impact of Covid-19 on the practice of auditing and auditors by Describe, analyzing and evaluating the global contributions of organizations, bodies, institutes, companies and global audit offices and in light of the application of ISAs and the circumstances of the pandemic. Design / Methodology / Approach: This study has relied on the use of the deductive inductive method whereby the study examines most of the audit issues affected by the Covid-19 pandemic through Describe, analyzing and evaluating the reality of studies, pamphlets, alerts and memorial messages issued by organizations, bodies, institutes, professional councils, companies and global auditing offices, with the aim of deriving results to develop audit practices and the work of auditors in Light of ISAs and pandemic conditions which will likely last longer. Findings: Descriptive analysis of the ISAs affected by the pandemic, and its implications for the auditors’ work revealed that there is a very important impact of the COVID-19 pandemic on the auditor’s professional judgment, especially with regard to the evaluation of the management assessment of the entity ability to continue, and auditing the reasonableness of management’s assessment of accounting estimates due to great uncertainty and the inability to Expecting future cash flows, in addition to professional skepticism due to the potential for fraud resulting from the economic downturn and low income, and perhaps failure to implement contracts and agreements due to the decline in production, and there is an important impact of the pandemic on audit evidence, in particular (attending the actual inventory count – group review – documentation) Because of the travel restrictions (social divergence) and the use of technology, all of the above is overshadowed to make the development of the audit program and the identification and evaluation of the auditors for risks more difficult, and even more complex, the content of the audit report, While the subsequent events for the auditor’s report least affected by the COVID-19 pandemic. Originality / value: This paper sheds light on the current and expected effects of the Covid-19 pandemic on the most important audit practices and auditors’ work by Describe, analyzing and evaluating the global professional contributions of organizations, bodies, councils, institutes, companies and global audit offices since the time of the pandemic at the end of 2019 and beginning of 2020 – until now – and in light of the application of ISAs issued by the IAASB.