The proliferation of technology has presented 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 can facilitate 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.
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 the first in a series of three planned virtual roundtables 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.
Moderated by IAASB Deputy Chair Fiona Campbell, the September 2 roundtable will address, among other topics:
- New vulnerabilities and fraud risks auditors should consider
- New and emerging technology used to detect fraud
- Current trends in how frauds are perpetrated using technology
- Challenges presented by technology in relation to fraud
Participants include forensic auditors, financial statement auditors, fraud audit methodology experts, third party audit solution companies, regulators, academics, public sector representatives, and others with a strong background in this topic from across the globe.
September 2, 2020, 7:00 am EDT–10:00 am EDT
IAASB Introduction and Welcome
Keynote presentation from the Fraud Advisory Panel
Breakout discussion among participants
Debrief & Report back from Breakout Sessions
Open Participant Discussion
Save the dates for related upcoming roundtables.
September 28, 2020
Exploring the “Expectation Gap” Related to Fraud and Going Concern in the Current Environment, and Feedback on the New and Revised Auditor Reporting Standards
October 7, 2020
Unique Aspects of Fraud in Audits of Less Complex Entities