Digital Assurance and Accounting Board:
Emerging technologies have radically transformed the way businesses are run. These transformations, however, are not mere disruptions for the professionals, rather empower them to excel and deliver value. The Institute, in response to the changing environment, responded by establishing a Digital Assurance and Accounting Board (the Board) in 2018. The board comprises of leading technology and domain experts from diverse backgrounds. The diversity and expertise within the Board, gives it a unique value that aids not only in bringing technical insights into the professional but also strengthens strategic vision for future course of action.
One of the functions of the Board is to create and disseminate necessary technical knowledge that augments changing demand for professionals such that they become technologically grounded and analytically sound for effective decision making. Under the guidance of the Board, various initiatives were taken on board, since then, including awareness webinars and technology integration survey.
In this regard, following five working groups are actively working to address public’s expectation gap around what is involved in an audit, how technology can enhance audit quality and how the scope of audit could change to include assurance on digital measures.
- Working Group for ‘Building a Digital Knowledge Base’
- Digital Technology Working Group
- Digital Accounting & Reporting Working Group
- Audit and Assurance Digitalization Working Group
- Public Sector: Digital Transformation Working Group
These working groups, under the guidance and mentorship of Chair, contribute their technological acumen in the areas of digital technology; digital accounting & reporting; e-audit and assurance; and digital transformation in public sector.
For Board’s Composition and TORs please visit: href=”https://www.icap.org.pk/committees-and-boards-new/?committe=7″