Impact of e-business

AUDITING STANDARDS HAVE BEEN AFFECTED BY TECHNOLOGY CHANGES, AND A REVIEW SHOWS THAT MORE MAY BE NEEDED

Auditing standards have been in the CICA Handbook for more than 30 years. Most were developed well before the e-business revolution and some before the use of technology became prevalent in business. To determine whether they have been affected by technology driven change related to e-business, the Information Technology Committee (ITAC) of the CICA conducted a review in 2000. Since then, there have been changes, but more still needs to be done.

While the term "e-business" has been overworked, it's widely used, although definitions vary considerably. As ITAC noted, there …