Please refer to the attached article entitled Reporting and Fraud Risk Arising from COVID 19 Pose Significant Challenges for Professional Accountants, IFAC, 23 July 2020. The article has painted a grim prospect to the integrity and reliability of financial data to investors and other stakeholders arising from the COVID019 in which it continues to have a devastating impact across the globe, and it show no sign of abating. In many countries, movement restrictions are becoming tighter, health systems are struggling, and the stock markets have experienced their worst since the 2008 financial crisis. The combination of financial and health threats makes people more vulnerable and creates opportunities for fraudsters. The rapid outbreak of the CIVID-19 presents an alarming health crisis that the world is grappling with. There is an urgent need to evaluate the impacts of the outbreak on their accounting and financial reporting.

REQUIRED

Evaluate the key pressure points in the new environment that increase the risk of fraud.