Advanced Technologies

The use of blockchain technology and cryptocurrencies is on the rise. Learn more about how these technologies are changing transactions amongst entities and their implications to financial reporting, regulation, and internal controls at organizations.

• Final report – Ethics implications of innovative technologies (IESBA Technology Working Group, 2022)
• Auditing mining revenue of entities engaged in crypto-asset mining (CPA Canada, 2022)
• Anti-Money Laundering, The Basics Installment 7 - Virtual Assets (IFAC, 2022)
• Blockchain and crypto-assets accounting and assurance resources for CPAs (CPA Canada, 2021)
• Blockchain and Internal Control: The COSO Perspective (COSO, 2021)
• Discussion paper: Accounting for Crypto-Assets (Liabilities): Holder and Issuer Perspective (PDF) (EFRAG, 2020)
• Blockchain Technology: Shaping the Future of the Accountancy Profession (IFAC, 2021)

The following resources help you stay informed of how artificial intelligence is impacting assurance engagements:

• Professional Accountancy Organizations (POAs) in the Age of Artificial Intelligence: Could We see a Completely Virtual PAO? (IFAC, 2024)
• IAASB Unveils New Technology Position to Shape the Future of Audit and Assurance Standards (IAASB, 2024)
• The use of artificial intelligence in the audit – balancing innovation and risk (CPAB, 2024)
• Navigating the AI revolution: Key updates for today’s CPAs (CPA Canada & AICPA, 2024)
• Use of AI in Audits and Financial Reporting (PCAOB, 2024)
• Auditing in the Age of Generative AI (CAQ, 2024)
• Use of Technology in Audits – Observations, Risks and Further Evolution (IFIAR, 2023)
• CPAB audit risk alert – Use of artificial intelligence applications in the audit (CPAB, 2023)
• Technology FAQs on investigating exceptions and relevance of performance materiality when using automated tools and techniques (IAASB, 2023)
• FAQ - The Use of ATT in Audit Planning
• Overreliance on Technology Arising from the Use of ATT and from Information Produced by an Entity’s Systems (IAASB, 2021)
• Technology in the audit (CPAB, 2021)
• Audit Documentation when Using ATT (IAASB, 2020)
• FAQ - The Use of ATT in Audit Procedures (IAASB, 2020)
• FAQ - The Use of ATT when identifying risks of material misstatement in Accordance with ISA 315 (IAASB, 2020)

With digitalization, cybersecurity and cloud computing are critical to creating and protecting organizational value. Learn how to stay ahead of cyber security threats and best utilize cloud computing at your organization. 

• Alternative Data: How COSO’s ERM framework can be applied (COSO, 2024)
• Cybersecurity and ERM top two priorities for audit committees (Deloitte, 2024)
• OSFI framework to strengthen financial institutions’ resilience to cyber-attacks (OSFI, 2023)
• How to prevent phishing for small businesses (Government of Canada, 2022)
• How to Protect Against Ransomware (Information & Privacy Commissioner of Ontario, 2022)
• ERM for Cloud Computing (COSO, 2021)
• Cybersecurity Guideline and Case Study (CPA Canada, 2021)
• Cloud computing: Benefits and risk management (CPA Canada, 2019)
• Cloud migration case studies for SMBs: deciding whether to migrate (CPA Canada, 2020)

Data is at the core of digital transformation. Entities with strong data governance can employ quality data to make value-driven decisions. Learn more about good data governance, performing data analytics and how data analytics are enhancing the audit process.

• Data governance, is it on your board’s radar (CPA Canada, 2021)
• Data governance and privacy risks in Canada: A checklist for boards and c-suite (BLG, 2022)
• Data and the Future Fit Accountant (IFAC, 2021)
• The role of professional accountants in data (IFAC and CPA Canada, 2021)
• Designing data governance that delivers value (McKinsey, 2020)
• The data-driven audit: AI and automation’s impact on the auditors’ roles (CPA Canada, 2020)
• An Inside Look at How Auditors in Canada are Using Data Analytics (CPA Canada, 2019)