Challenges of accounting and finance practices

during Covid-19 pandemic

The Covid-19 world pandemic has begun officially at the date of 7th
of January 2020 in China, in a small city called Wang, and resulted at
this time in almost 219 millions cases and 4.55 millions deaths. With
this global pandemic who has destabilised healthcare system and the
normal lifestyle of the people when no one was expecting at that and
required some public health measures (working from home where was
possible, wearing a mask and social distancing everywhere), was also
produced concerns about the economy and even a possible crisis in
economical environment. The lockdown who was required by the
authorities in order with the big number of new Covid-19 cases which
was shutting down several businesses like restaurants, pubs, malls
around the country and more others, but in order to them, the
accountants were able for working from home, which seemed a good
way for them to have more free time to spend and also to upgrade
their devices for a propper use. According to Keats and Verhelst (2020),
the Covid-19 pandemic starts a new work age where more companies
are adapting very fast to the remote work environment which depends
on technologies and the usage of new work methods.

Reference
Beckett, S.F., Rood, D.K., Sterna, S.S. & Wolfe, J. (2020). The indirect
impact of covid-19 on CPA firms. Journal of Accountancy, Retrieved
from https://www.journalofaccountancy.

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com/news/2020/apr/indirectimpact-of-coronavirus-on-cpafirms.html.
Accessed June 17, 2020