A new resource from the Center for Audit Quality (CAQ) addresses some of the technology challenges facing auditors, audit committees and management.
The publication – Emerging Technologies, Risk, and the Auditor’s Focus – advises auditors to gain a holistic understanding of changes in the industry and the technology environment before designing audit procedures. The CAQ report advises auditors to involve a subject matter expert if specialized skills are needed to determine the impact of new technologies on their practices.
Four key steps can help auditors as they navigate a changing technology environment.