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Even with new technology, auditors face same demands

Tammy Whitehouse | November 7, 2018

Whatever changes technology might bring to the financial reporting process, auditors still face the same expectations to understand the process and examine it skeptically under current auditing standards, which appear to remain relevant.

That’s the view of Kathleen Hamm, one of five new members of the Public Company Accounting Oversight Board, as she settles into her new role and considers the effect of emerging technologies on the audit regulatory process. “The advent of emerging technologies does not change the fundamental financial reporting framework,” Hamm said in a recent speech. “At the risk of stating the obvious, for audits of public companies and broker-dealers, PCAOB standards still...

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