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Helping auditors through COVID19
Resources available through ICAEW's coronavirus hub can support auditors with a host of technical and practical challenges.
There is also guidance available from the Audit and Assurance Faculty that auditors may wish to share with investors and other users of audit reports. Coronavirus: understanding audit reports (at icaew.com/insights) is designed to help users of audit reports to better understand different types of audit report wordings used by auditors, and their significance, by answering a number of frequently asked questions, such as “Why might an audit opinion be modified?” and “What does going concern mean?”
The audit of going concern assessments and reporting on material uncertainty are key for auditors and the faculty has published practical guidance around this in webinars and documents.