ISSC 2022, PROSPECTS OF ACCOUNTING DEVELOPMENT: THE YOUNG RESEARCHER’S VIEW, 11-12 Marth 2022 379 DOI 10.5281/zenodo.6758778 CZU 657:614.4 THE IMPACT OF COVID-19 ON ACCOUNTING PROFESSION IMPACTUL COVID-19 ASUPRA PROFESIEI CONTABILE Lica ERHAN, ORCID ID: 0000-0001-5204-6367 lica.erhan@ase.md Melisa CASAPU casapu2002@gmail.com Gabriela RÎȘCHITOR rischitorgabriela@gmail.com Academy of Economic Studies of Moldova, Republic of Moldova Abstract. This paper aims at presenting the challenges, and trends faced by the accounting profession under the impact of Covid-19. The accounting profession has always assisted to support and shape private and public businesses. However, the fast speed at which the outbreak of the Covid-19 crisis has broad changes in the use of digital technology in businesses, post great challenges to the accountants and their firms. To overcome the risk and challenges, accountants must add value by embracing digital technology to meet the current and future challenges. Keywords: accounting profession, Covid-19 pandemic, challenges JEL: M41, Q56, O33 Introduction Nowadays, the professional accounting department offers a wide variety of services, both to legal companies and people in accounting and finance. This can cover bookkeeping, financial statement compilation, tax services, payroll services, support services for labour and insurance, planning and reporting, and consulting services. Therefore, it is noticeable that an accountant's work is no longer confined to accounting – just reporting [1]. Taking that into account, the importance of the business of accounting is unquestionably significant. That is to say, both enterprises and people and the state and its economy have visible relevance in the accounting profession. Many macro and microeconomic factors affect the accounting profession. However, there are issues as to how the accounting profession may be affected when the State is faced with rare catastrophic conditions that are disrupting its daily routine, and demand quick action, adaptation, and duty, in several other ways, emergency change for accountants. One of those rare occurrences in human history, confirmed by the World Health Organization is the Covid-19, a global pandemic that has led a large proportion of the world's countries to take both urgent measures [2]. The risks posed by the pandemic of coronavirus do not end. Countries have prohibited millions of people from traveling, and quarantine measures have been introduced. Companies struggle with lost profits and broken supply chains. Furthermore, the global supply chain instability triggered by plant shutdowns has illustrated many organizations' vulnerabilities. The disease has also contributed to tremendous unrest in the world's commodity and financial markets. Finally, there are also signs that the epidemic has infected the global economy significantly [3]. Therefore, this paper aims to determine the effect of Covid-19 on the accounting profession. It will discuss the challenges and potential solutions to overcome the obstacles. In other words, it will help accounting professionals who are facing challenges surviving in the new-created environment.