Title
Technology Changes the Form and Competence of Audit Evidence
Document Type
Article
Publication Date
1-2007
Abstract
The increasing prevalence of complex computer information systems and electronic data interchanges has made most business transactions electronic in nature. The auditing profession has reacted to advances in technology and e-commerce by issuing new guidance. The Auditing Standards Board issued Statement on Auditing Standards 80 in 1996 to guide accountants when auditing the financial statements of an entity where considerable information is transmitted, processed, maintained, or accessed electronically. But as businesses become increasingly complex, the auditing profession must ensure that it obtains sufficient competent evidential matter to support financial statement assertions. Thus, documentary evidence should be reviewed with greater diligence and increased professional skepticism. Auditors should perform additional tests to complement traditional audit procedures and exercise increased professional skepticism regarding audit evidence. Auditors must continue to be cognizant of the requirements in the recently issued auditing literature when financial information is electronic in nature.
Publication Title
The CPA Journal
Repository Citation
Caster, Paul and Verardo, Dino, "Technology Changes the Form and Competence of Audit Evidence" (2007). Business Faculty Publications. 130.
https://digitalcommons.fairfield.edu/business-facultypubs/130
Published Citation
Caster, Paul and Dino Verardo. “Technology Changes the Form and Competence of Audit Evidence” The CPA Journal (January 2007), 77(1), pp. 68 – 70.
Comments
Copyright 2007 New York State Society of Certified Public Accountants
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