Organizations should be aware that a proposed international ethics standard would change the ethics rules on how auditors and organizations address technology use.
Under the exposure draft from the International Ethics Standards Board for Accountants, accountants would have to consider specific factors to determine when reliance on technology is reasonable, in much the same way that they now consider reliance on the work of others. In addition, there are requirements in the new quality management to assess vendors that you rely upon.
The exportable sample workpaper found at the bottom of this article can be edited as needed for your firm and/or engagement usage.
Using MindBridge tools to comply with IESBA technology ED
MindBridge is the world’s leading financial risk discovery platform, and works diligently to anticipate and meet the highest standards of quality and ethics. As a result, MindBridge technology and tools already meet the standard’s proposed reliability requirements. MindBridge Ai has received independent third-party validation of the reliability of its tools from numerous sources, and is certified SOC 2® and ISO 27001.
Its algorithms have received a comprehensive audit by University College London Consulting (UCLC), a renowned centre of excellence for algorithm audit and safety. MindBridge was the first Audit and Financial Analysis Software to have gone through the rigorous evaluation methodology of the ICAEW Technology Accreditation Scheme and the organization is the first private sector signatory to the Montreal Declaration for a Responsible Development of Artificial Intelligence.
As organizations prepare to implement the finalized ethics standard, MindBridge is ready to enable auditors, accountants, and financial professionals to meet its requirements.
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