Auditing Implications of COVID-19

 The COVID-19 crisis and related economic uncertainty present a unique  set of challenges for companies and their auditors. While U.S.  regulatory authorities, such as Securities and Exchange Commission  (“SEC”) and Public Company Accounting Oversight Board (“PCAOB”), have  been diligent in providing resources and guidance on reporting, auditors  still have an obligation to comply with auditing standards and rules,  and other applicable regulatory and professional requirements in all  circumstances. This assignment provides an opportunity for you to apply  your knowledge obtained in Lesson 2 in the current situation and think  about how the global pandemic has changed the auditing environment  (Note: For this assignment, we will focus on overall auditing  environment, rather than specific audit procedures, as details of audit  procedures are covered in later chapters).