COVID-19 and accounting, accountability and governance

This chapter synthesizes and critiques recent studies examining the impact of the COVID-19 pandemic on accounting, accountability and governance, and categorizes them according to different organization-types and common themes. Our analysis highlights how traditional approaches to accounting, accountability and governance have been challenged by the global pandemic at different levels. This chapter also reflects on the lessons learned, and which continue to be learned, and provides possible suggestions to improve the preparedness of organizations and society to manage future crises. Studies published to date examining the impact of the pandemic emphasize the importance of values, culture and institutional contexts in shaping accounting, accountability and governance. Analysis of these studies indicates that further research is needed to increase understanding of the interplay between these elements. Collectively, these studies highlight the importance of continually questioning and re-evaluating underlying accounting, accountability and governance practices, as the pandemic has shown that they may suddenly shift, become contested and give rise to conflicts and ambiguities.