Home⇛Business Research Journal⇛vol. 7 no. 1 (2021)

Application of Internal Audit Process and Audit Quality in the COVID-19 Pandemic Era: Standpoints of Accounting Practitioners

Jacqueline A. Aquino | Lyka L. Sanchez

 

Abstract:

The internal audit practices have been affected by the COVID-19 outbreak. Many organizations adapt to the new normal, which leads to new challenges for auditors. Auditing might deteriorate significantly when applying internal audit procedures, requiring observations and physical interaction. Moreover, this study aims to assess the accounting practitioners' perception of the internal audit process and audit quality in times of social distancing. The descriptive correlational method was used. While many individuals feel that the COVID-19 outbreak is not yet a financial crisis, it is believed that it will be the most challenging issue for the auditors and their clients. The recommendation in this paper is expected to help those who are under the remote working setup during the pandemic to perform a better internal audit process, which is positively associated with audit quality.



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