ADDRESSING THE FINANCIAL REPORTING ISSUES ARISING FROM THE COVID19 PANDEMIC

Abstract

The COVID-19 pandemic has had a significant impact on the global economy and has presented numerous challenges for financial reporting. As companies continue to adapt to the new normal, there are several key issues that must be addressed in order to ensure accurate and transparent financial reporting. This article aims to explore these issues and provide possible solutions for addressing them. These include issues such as the impact of remote work on financial reporting, the use of estimates and assumptions in financial statements, and the increased need for financial reporting transparency. The article also discusses the importance of clear and timely communication with stakeholders in addressing these issues. Overall, this article serves as a valuable resource for companies and financial professionals as they navigate the ongoing challenges of financial reporting in the wake of the COVID-19 pandemic.