I am currently researching the impact of Covid-19 on individual auditor's efficiency and audit timing. Due to the pandemic, there is a considerable shift to work from distance. For, instance the meeting between the partner or senior auditor and client became via different virtual tools. In addition, junior auditors have been forced to conduct the audit process remotely and more digitally. Thus, many things can be expected due to the shift to distance working during the pandemic that can affect the audit. For instance, if the client has a delay in delivering financial data to the auditor that may cause a delay in auditing. There can be also a delay in the delivery of the work from junior level auditors to senior-level auditors and the meeting between them. on the other hand, using more digital tools may save some time in the audit and enhance efficiency. Thus, auditors' efficiency and auditor performance in this period are ambiguous.
Definitely, COVID 19 pandemic has an inevitable effect of the auditor's work. On the positive side, auditors will have to use digital tools in their work - it is a necessity now and not an option - and this will be reflected on their work progress. on the negative side, and due to working from distance, professional skepticism should increase and this is reflected on their evaluation of risk. Although auditors are going to save time, but their ways for collecting evidence - even through digital tools - will not substitute "OBSERVATION".
Transparancy is needed. Consider any changes in the operation of internal reporting structures like risk, HR, legal, compliance or whistleblower systems, the impact on investigations and resolution timeliness, as well as how and when any material issues are reported