Vega Agnitya Eka Pangesti

Accounting IP / 17312053

Auditing 2
Short Question (Proof of Attendance)

- How does the Covid-19 pandemic affect the accounting profession?

Answer:

The rapid outbreak of the coronavirus presents an alarming health crisis that
the world is grappling with. Other than that, coronavirus is not just a world health
emergency, it is an economic one too. As the pandemic increases in both magnitude
and duration, entities are experiencing conditions often associated with a general
economic downturn. This includes, but is not limited to, financial market volatility
and erosion, deteriorating credit, liquidity concerns, further increases in government
intervention, increasing unemployment, broad declines in consumer discretionary
spending, increasing inventory levels, reductions in production because of decreased
demand, layoffs, and furloughs, and other restructuring activities. The continuation of
these circumstances could result in an even broader economic downturn which could
have a prolonged negative impact on an entity’s financial results. In addition, the
economic impacts are plain to see and emergency provisions are being made
worldwide in an attempt to support individuals, businesses and anyone who advises
them.

From the issue above, in my opinion, there will be high demand for the
accounting profession due to many companies need the advice to save their company.
However, the problem is the accounting profession is one of the jobs that need a lot of
activities and causes stress. Other than those, in this situation, the government also
limits our activity to do the work. It is really confusing situation, but I believe that as
an accountant, they should take care of their body and immune system to avoid the
virus rather than accept the clients.