Overview
From Artificial Intelligence (AI), Robotic Process Automation (RPA), and Audit Data Analytics (ADA) to cloud-based software solutions, our client's technology landscape is rapidly changing. Accordingly, as accounting professionals, we need to be at the forefront of these changes, including having a firm understanding of the risks associated with using these tools. Review these trends, highlight new and emerging products, and focus on cybersecurity risks and best practices that will allow accounting professionals to help clients navigate these exciting but challenging times. Discuss the newly issued guidance on audit evidence found in SAS 142, which guides our use of technology in our professional engagements.
Objectives
- Identify the business drivers of companies today and the need for data-driven decision making
- Identify other current trends in information technology applications for clients and auditors
- Discuss SAS 142 and how it applies to the new audit methodologies using technology
- Explain how auditors are integrating audit data analytics into the audit process
