After what has been another difficult year for auditors and accountants, Covid-19 is still with us and still causing issues for year-end audits.

Fraud

Covid-19 seems likely to have exposed many entities and individuals to new variations of well-understood frauds. Phishing attacks, impersonation and technical support scams are not new, but all have taken on greater significance with staff physically distanced from each other, and less able to ask for advice quickly.

The pandemic may also have enhanced motivations, rationalisations and opportunities for the misappropriation of assets, fraudulent financial reporting and non-compliance with laws and regulations.