Technology Trends and Hot Topics Impacting the Accounting Profession

Overview

You could pay $0 for this course!

The benefits, and related risks, of utilizing new technology have never been greater for those in the accounting profession. From Artificial Intelligence (AI), Robotic Process Automation (RPA), and Audit Data Analytics (ADA) to cloud-based software solutions, our clients' technology landscape is rapidly changing. Accordingly, we, as accounting professionals, need to be on the forefront of these changes, including having a firm understanding of the risks associated with the use of these tools. In this course, we'll review these trends, highlight new and emerging products, such as ChatGPT, and focus on cybersecurity risks and best practices that will allow accounting professionals to help our clients navigate these exciting but challenging times. Plus, we'll review the relevant guidance on audit evidence found in SAS 142, which guides our use of technology on our professional engagements.

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-13054. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

Data-driven decision-making processes Top technology trends and related risks, including cloud computing, AI, ChatGPT, RPA, and blockchain applications Fraud statistics and cyber threats Common IT security risks and controls Requirements of SAS 142 Use of analytical procedures on professional engagements

Prerequisites

None

Designed For

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

Objectives

Identify the business drivers of companies today and the need for data-driven decision making Identify other current trends in information technology applications for clients and auditors Discuss SAS 142 and how it applies to audit methodologies using technology Explain how auditors are integrating audit data analytics into the audit process