In our comments to the PCAOB’s Proposed Amendments Related to Aspects of Designing and Performing Audit Procedures that Involve Technology-Assisted Analysis of Information in Electronic Form, we commend the Board’s initiative to update standards that impact auditors’ use of technology-assisted analysis, especially given the increasing pervasiveness and complexity of such analyses in today’s audits. We believe that significant benefits can be realized by employing technology-assisted analysis on audit engagements and that these benefits can be maximized by developing auditing standards that are sufficiently principles-based and promote the performance of appropriate risk-based procedures.
As the Board continues to deliberate the details of the Proposal and carve a path forward, we believe the focus should be on the sufficiency and appropriateness of audit evidence obtained, as opposed to the classification or type of procedure performed to obtain that evidence.
To read about this and our other suggestions, download our letter in full.
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