COVID-19 pandemic has significantly affected many industries and companies as well as major economies. The unprecedented pandemic and its developments have resulted in significant uncertainties which resulted a significant challenge to accountants and financial reporting. Accountants and accounting firms are forced to innovate and evolve to ensure business continuity in the new normal. Financial statements should properly capture and reflect the latest financial status of the companies. i. discuss the impact of COVID-19 pandemic on issues relating to accounting and financial reporting (relate discussion with affected MERS/MFRSs). ii. Discuss how the accountants can help companies in dealing with impact of COVID-19