Covid-19: auditors face challenge of evidence, scepticism and fraud

13 May 2020

The current crisis is exposing auditors to increased risks and client challenges while the need for professional scepticism and fraud awareness has never been greater, say Clyde & Co’s accountants’ liability team

At the end of March, the Financial Reporting Council (FRC) together with the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) released a joint statement outlining a series of measures and guidelines. Perhaps most significantly, listed companies are being allowed an extra two months to publish audited annual financial statements. This extended timeframe is to be kept under review.

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