Understanding the critical role of auditing and compliance in complex and regulated environments

In 2020, the world underwent an unprecedented transformation; consumer and company behaviors shifted dramatically as a response to the pandemic, inspiring a digitally enabled world. For many, a search or a meeting became part of everyday life. Furthermore, in 2020, estimates show about three billion people worldwide were under full or partial lockdown. Staying connected became critical to everyone during the lockdowns, and social media emerged as the primary communication channel between people, contributing to increased usage of various social media platforms, many times exploding in popularity, usage, and outreach. Daily time spent online skyrocketed during the pandemic. This sudden and extreme push for digitalization led to exponential growth within numerous companies and sectors. Stocks gained significantly in value as opposed to a decrease in value of the aviation sector over the same time frame, a broad indicator of the industry impacted by the pandemic.