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Impacts of COVID-19 on the financial reporting and audit (კორონავირუს COVID-19-ის გავლენა ფინანსურ ანგარიშგებასა და აუდიტზე)

Impacts of COVID-19 on the financial reporting and audit (კორონავირუს COVID-19-ის გავლენა ფინანსურ ანგარიშგებასა და აუდიტზე)

Sabauri (საბაური), Levan (ლევან)
URI: http://dspace.tsu.ge/xmlui/handle/123456789/1626
Date: 2021

Abstract:

The New Covid19 pandemic caused economic crises since the beginning of the year and created global challenges in the world. The enterprises have faced severe problems in preparing the financial reporting for 2019. The crisis seems to continue for the 2020 financial year. Serious challenge has been posed to auditors and audit companies. This paper proposes ways to solve these issues as specified by current international standards and regulations. Enterprises faced considerable challenges during unforeseen pandemics. The challenges are especially apparent in the preparation of valid financial statements. Due to the existing conditions, it is difficult to understand whether the use of the going concern of accounting in the financial statement will be adequately perceived and useful for the interested stakeholders. The paper elaborates on the key topics that the industries should consider while preparing financial reporting, as well as auditors - while auditing financial reporting.

Description:

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