Studying accounting and audit considerations of global pandemic Coronavirus (Covid-19)‎ crisis and its effects on financial reports and auditing procedures : survey study in Egyptian market

Abstract EN

This study aims to explain and address the practical problems of accounting and the challenges associated with the impact of Coronavirus (Covid-19) on financial statements preparation and auditing.

The research is focused on two key issues that aim to help the research objective.

The key issues into which the study is subdivided are:
- The effects of (Covid-19) virus on accounting measurement and disclosures for financial reporting requirements.

- The effects of the (Covid-19) virus on the audit procedures.

Based on these two themes the research question aims to answer is:
“What are the practical accounting issues and challenges related to COVID-19 crisis effects on preparing and auditing of financial reports? ”

The survey outcomes of the research:
- Proves the first hypothesis that there is a significant effect in all dimensions of the implications of (Covid-19) on accounting measurement and disclosure in the financial reports.

-Proves the second hypothesis that there are significant effects on the implications of (Covid-19) on the audit procedures of financial reports.

- Concludes that we can refuse the third hypothesis which said that there are no statistically significant differences for the opinions of each of the academics working in the Egyptian universities, accountants, and audit professionals about the implications of (Covid-19) virus on the preparation of financial reports and audit procedures, except some items that mentioned previously especially which related to Events after reporting, going Concern, disclosures, and audit Report.