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Top 10 Technology Risks and Trends Every CPA Should Know (TTR4)

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Top 10 Technology Risks and Trends Every CPA Should Know (TTR4)

  • Customer Rating
    Not Yet Rated
  • Field of Study
    Auditing | Information Technology
  • Level
    Basic
  • Credits
    4
  • Qualifies for

    CPE

Overview

The use of technology has exploded over the past decade. As entities’ use of technology including data analytics, robotic process automation, blockchain, and artificial intelligence expands, management’s desire for data-driven decision making and increased efficiency can be fulfilled. At the same time, all this new technology adds a layer of complexity to the audit process. This coincides with the heightened need all entities have for robust cybersecurity and risk management processes in this time of breaches and other forms of cyber fraud. Auditors need a broad range of knowledge of information technology topics so they can clearly converse with their clients. In addition, now is the time for auditors to begin considering the new audit technologies that are already being used by some firms in their audit processes. The AICPA recently issued its SAS No. 142, Audit Evidence, amending AU-C 500 to take into consideration new audit methodologies using technology. Join us for this 4-hour session, which will provide you with an overview on these issues and more.

Major Topics:

  • Blockchain, robotic automated processes, and artificial intelligence and how they are being used by entities today
  • Recent SEC cybersecurity guidance
  • How to avoid malware and other security threats
  • Common attacks and data breaches
  • Threats to independence resulting from hosting the client’s data
  • Integrating audit data analytics into the Audit Process
  • Migrating data to a cloud-based environment
  • The importance of securing client data
  • The recent Cybersecurity Risk Management Framework
  • Attest service options related to a client’s cybersecurity risk management program

Learning Objectives

  • Understand current trends in information technology applications
  • Determine how to best manage information technology–related risks that CPA firms face when providing professional services to clients
  • Explain how auditors are integrating audit data analytics into the audit process
  • Discuss SAS No. 142 and how it applies to the new audit methodologies using technology

Designed for:

CPAs in public practice with accounting, financial reporting, or attest responsibilities

Prerequisite:

None

Advanced Preparation:

None

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PRIVATE WEBINARS AND LIVE ON-SITE COURSES ARE AVAILABLE. LEARN MORE.
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