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Explain Auditing in times of social distancing: the effect of COVID-19 on auditing quality proposed by Australian Securities and Investment Commission (ASIC) in the following

  1. Explain Auditing in times of social distancing: the effect of COVID-19 on auditing quality proposed by Australian Securities and Investment Commission (ASIC) in the following situations:

  1. What should be the focus areas for auditors under COVID-19 conditions?

  2. Should audit fees be reduced when reviewing other cost saving initiatives?

  3. Should an auditor delay their opinion until a limitation or uncertainty is resolved?

  4. What should be influence of COVID-19 and going concern assessment?

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