COVID-19 has created an environment of uncertainty. In short the world has come to a standstill, causing global downturn and bringing in new risks for companies and these risks have started to pose challenges both operationally and financially. In coming days and weeks companies would be evaluating the risks with greater clarity and responding to the new challenges with greater certainty. Companies would also have to consider the consequences of COVID-19 in context of their financial reporting. The considerations and efforts of management may revolve around preparation of complete books of account, going concern assessments, preparation of accounting estimates and determination of fair values and making appropriate disclosures in the financial statements and other information. Auditors play an important role in the financial reporting process by providing an independent opinion on financial statements. Consequently, auditors face many challenges using information technology (IT) to perform audit work from home such as lack of spontaneous and informal communication, misunderstandings that arise because of too much reliance on emails, lack of managerial support and lack of social opportunities among audit team members. Required: (a) Explain how auditors can adapt to the changes in the approaches, techniques and expectation of performing auditing in the IT environment. (9 marks) (b) Describe EIGHT (8) IT methods, which the auditors can use in order to help them to complete their audit procedures virtually on a timely manner. (16 marks) Total part (a) and part (b) = 25 marks)