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How auditors should respond to the coronavirus

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For over 30 years, our firm has had the honour to serve the accounting industry. We offer some of the most useful services so we can support each client. We have become the top business for auditing Stratford has. Our team works hard to provide the right advice every time. The services here are also very cost effective. This means you will get real value for your money.

Auditing StratfordThe coronavirus pandemic continues to affect countries all around the world. The national authorities and WHO are bodies you can consult with about the health implications. However, this virus has also had a big economic influence on businesses. This has an impact on auditing and their finances.

During these times, adherence to the International Standards in Auditing should persist. This should happen in full. In addition, auditors should take a few steps back. They have to think about looking deeper to reply to the auditing obstacles the virus causes. This is for the businesses and their reporting.

Accumulating evidence

Auditors should think about how they can accumulate audit evidence in this period. They may need to realise that they must alter their approach to auditing. It may prove necessary to come up with new processes. This is especially true for group audit engagements with subsidiaries that have limited access. It is still a necessity so that you can consider changing the audit opinion or reporting.

Future projections

One other thing the auditor needs to think about is the challenges that management could have with future projections. They have to recognise the highly fluid and uncertain situation. The projections could change just like that. It is vital for the auditor to have caution and make certain that the projections mirror the situation. This is as, and when, you must sign an audit report.

Expert auditing in Stratford

At Brian G Lonis & Co, we aim to help clients with all their concerns, regardless of the case. This is what has led us to become the foremost company for auditing Stratford has. We can even aid you with survival arrangements if your business has liquidity concerns.

Contact the team if you need us. We are happy to offer advice and can also explain how our services can help you.