Editorial

World Accounting Report is sometimes referred to by an acronym, WAR. If there is one issue against which every country in the world is currently waging war, it is “the virus” – coronavirus, or Covid-19. Although the virus is itself a medical issue, its implications affect every aspect of society, government, business and accounting, to an extent that was unimaginable a few months ago. As it moves around the globe, one country after another has implemented drastic measures to limit its spread. No matter where we live, almost all of us have been touched by the pandemic itself, or the measures taken to ameliorate it. With much of Europe and north America currently in confinement, “lockdown” has become the word on everyone’s lips. We try to make meaning from the remorseless statistics, and worry for our families, colleagues and friends. If the new reality were not enough, there are also economic costs. Covid-19 is a global issue, and a demonstration of the interconnectedness of the modern world. However, in tackling it countries have formulated their own responses, and there has been little international co-operation. Similarly, governments around the world are taking unilateral measures to support the many businesses impacted and at risk of failing, as well as introducing income support schemes for those who have lost their livelihoods, but there has been little sign of international coordination.