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CAQ Issues New Resource on Emerging Technologies

December 13, 2018

The Center for Audit Quality (CAQ) released a new resource providing a framework and questions audit committees may be asking as new technologies impact the financial reporting process. The publication, “Emerging Technologies: An Oversight Tool for Audit Committees,” based on the work of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), has five key components:

  • Understand the company’s emerging technology strategy and any specific technologies contemplated
  • Understand management’s risk identification and assessment process
  • Understand the control activities in place that respond to the identified risks
  • Establish information and communication protocols
  • Monitor emerging technology activities

Read more at the CAQ website.