The collapse of a cavitation bubble near a rigid boundary induces a high-speed transient jet accelerating liquid onto the boundary. The shear flow produced by this event has many applications, examples are surface cleaning, cell membrane poration, and enhanced cooling. Yet the magnitude and spatio-temporal distribution of the wall shear stress are not well understood, neither experimentally nor by simulations. Here we solve the flow in the boundary layer using an axisymmetric compressible Volume of Fluid (VOF) solver from the OpenFOAM framework and discuss the resulting wall shear stress generated for a non-dimensional distance, γ = 1.0 (γ = h/R max , where h is the distance of the initial bubble centre to the boundary, R max the maximum spherical equivalent radius of the bubble). The calculation of the wall shear stress is found reliable once the flow region with constant shear rate in the boundary layer is determined. Very high wall shear stresses of 100 kPa are found during the early spreading of the jet followed by complex flows composed of annular stagnation rings and secondary vortices. Although the simulated bubble dynamics agrees very well with experiments we obtain only qualitative agreement with experiments due to inherent experimental challenges.