Public Auditing in the Pandemic Era

Public auditing is the branch of accounting wherein an independent accounting firm examines an organization's financial records, and provides the highest level of assurance that they are in accordance with generally accepted accounting principles. This is crucial to business in order to make a company's financial records and, therefore, its economic condition clear and understandable to its managers and to potential investors. The COVID-19 pandemic has significantly affected the public audit process, and the innovative use of accounting technology has been implemented to mitigate the negative impacts of the pandemic. There have been positive implications of this shift as it has forced businesses to update their technology and methodology in ways that will have lasting repercussions. I will begin with a short history of audit to provide the reader with the context of public auditing prior to the COVID-19 pandemic. Next, I will discuss the development and use of accounting technology in the auditing field. Finally, I will examine how approaches have changed to accomplish audit objectives in the present day.