IAASB virtual roundtable: Fraud in the digital age

When Sep 02, 2020
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Timezone UTC
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The IAASB invites you to tune into a roundtable discussion addressing fraud in the digital age on September 2 at 7:00 am EDT live streaming on YouTube. The roundtable discussion is part of the IAASB’s new roundtable series to explore issues and challenges related to fraud through discussions with experts and leaders. These discussions will help the IAASB determine an appropriate response to the significant questions raised globally regarding the role of auditors in relation to fraud.

The proliferation of technology presents unprecedented opportunities for fraud—the means, motivation and opportunity are facilitated by the increasing and evolving use of technology. In the rapidly evolving technological landscape, detection becomes harder. As businesses embrace digitization to better serve their customers, there is an emergence of new threats. Technology may be one of the greatest enablers of fraud but also, paradoxically, one of the greatest defenses.

There is a call for auditors to do more in relation to fraud as part of their audit procedures. The IAASB is digging deeper into fraud and technology’s impact thereon, including:

  • How technology facilitates the perpetration of fraud;
  • How technology is used in financial statement audits to help the auditor in relation to their obligations regarding fraud; and
  • How technology is used in forensic audits, and whether there are any aspects of this that may be helpful for the purpose of a financial statement audit.


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