Summary
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 a world leading financial anomaly detection and risk discovery platform, and works diligently to anticipate and meet the highest standards of quality and ethics. As a result, MindBridge technology and tools meet the standard’s proposed reliability requirements. MindBridge AI has received independent third-party validation of the reliability of its tools from numerous sources.
We are an ISO 27001, 27017, 27018-certified secure platform, and have SOC 2 and SOC 3 attestation reports. MindBridge algorithms have received a comprehensive audit by Holistic AI, a renowned center of excellence for algorithm audit and safety. MindBridge was the first audit and financial analysis software solution 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.
MindBridge is ready to enable auditors, accountants, and financial professionals to meet secure and ethical standards requirements.
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