The end of 2020 is on the horizon, and auditors at calendar-year companies are already planning and beginning their audits. The usual annual challenges of implementation of new accounting standards and related internal controls persist, but this year-end is unlike any other, as firms are dealing with changes to their businesses and the economy overall as a result of the COVID-19 pandemic.

Maria L. Murphy, CPA, is a regular contributor to Compliance Week. She is a senior content management analyst, accounting and auditing products, CCH tax and accounting North America for Wolters Kluwer....