Russia Ukraine Conflict, What Should Internal Audit Consider (PDF)

The tragic circumstances in Ukraine mean that for many, there are much more important issues at hand and the possibility of ‘business as usual' is not realistic, including carrying out audits.
In many cases, offices of companies and auditors will be closed and obtaining sufficient appropriate evidence will be impossible.
There will be different challenges for entities located in Russia and Belarus, where business will be continuing but under sanctions and other restrictions, and accordingly, there will be different impacts on auditing.
Russia's invasion of Ukraine has drawn global condemnation and, specific to risk and audit functions, rapid rounds of economic sanctions and other legislative measures against Russia. The risk landscape has been redrawn overnight. As such, risk and audit teams must move fast to ensure their organizations are compliant with the latest measures.

In this document, we give an overview of some of the key area's internal auditors may need to consider supporting their organizations in such critical times.