Consultations 2020 Discussion Paper - Technological Resources: Using Technology To Enhance Audit Quality

Discussion Paper - Technological Resources: Using Technology To Enhance Audit Quality

25 March 2020
The Financial Reporting Council (FRC) has today issued a discussion paper on Technological Resources: Using technology to enhance audit quality. Building on the FRC’s recent thematic review, The use of technology in the audit of financial statements, we are seeking stakeholder views on how the FRC might better support the use of technology as a driver of high quality and consistent audit.
 
Technology driven innovation has been the subject of significant investment for a number of years, and is increasingly the focus of dialogue between regulators, standard setters and audit practitioners. The FRC recognises that as the UK audit regulator, we have a role in setting expectations regarding the use of technology. The FRC is therefore keen to engage in dialogue with stakeholders and are asking for respondents’ opinions on a range of questions relating to technology, data extraction and ethics.
 
We are inviting responses to be received by 5pm on Friday 3rd July and welcome both direct responses to the questions, as well as comments on other areas of audit quality and technology outside those identified. Please address your responses to Jason Bradley at AAT@frc.org.uk.

 

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