Mar 27, 2024
This report explores the audit implications of risks associated with the use of generative artificial intelligence (AI) in financial reporting processes and internal control over financial reporting (ICFR). In addition to summarizing essential aspects of generative AI technology and explaining how companies are implementing it, the publication discusses government regulations that may affect generative AI, outlines specific risk areas for auditors to consider, and includes a couple of hypothetical scenarios illustrating how an entity might perform risk assessments related to the use of such technology.
Jun 30, 2023
For those audit committee members with oversight of companies that hold or transact with digital assets, this publication examines key digital asset-related topics and provides questions for audit committees to consider when discussing these topics with management and the external auditor.
Jun 13, 2023
Enhanced disclosures about how a firm supports and monitors audit quality, including related metrics, can promote important dialogue and deepen the understanding of the investment a firm makes in its people and other resources, processes, policies, and technology. The initial Audit Quality Disclosure Framework was published in 2019. This revised 2023 Framework retains the intent and principles of the original and has been updated to reflect recent developments.
Nov 04, 2022
This Center for Audit Quality (CAQ) guide highlights for audit committees various topics surrounding blockchain digital assets, including potential use cases for their integration into company operations and portfolios, financial reporting considerations, and related regulations and standard setting. The guide offers a list of questions to consider posing to management and auditors.
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