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On August 20, 2024, the Securities and Exchange Commission (SEC) approved significant updates to the Public Company Accounting Oversight Board (PCAOB) standards, specifically AS 1105 (Audit Evidence) and AS 2301 (The Auditor’s Responses to the Risks of Material Misstatement). With these amendments, traditional sampling methods alone will no longer suffice. The updated standards are set to reshape auditing practices by providing clearer guidelines on the use of technology-assisted analysis. Here’s a closer look at these changes and their implications for auditors.

Cloud computing infrastructure has become the standard in the high-tech industry and beyond. Instead of buying physical servers, you can get computing services with just a few clicks in the required amount and manner. However, the relative ease and almost unimaginable convenience compared to the on-premises world also come with many risks. It’s so easy to manage computing infrastructure and grant permissions to anyone anywhere in the world to manage it for you, making it complicated to know who is doing what, especially in large organizations. This problem is well-known, and there is a huge and developed cybersecurity industry-leading many diverse solutions to reduce risks in cloud work.

Preparing a company for an IPO is a complex process. Many parts of the organization need to operate differently than they have until now, even if they seemed to be working well. This change is not organic but dictated by the IPO and the need to meet higher compliance requirements.

As companies increasingly depend on IT systems for their daily operations, the need for technological assistance in ITGC audits has become essential. Traditional auditing processes are no longer effective given the complexity of IT controls and stringent regulations. This is where ITGC (IT General Controls) automation becomes vital. But what exactly is ITGC automation, and how can it benefit audit firms and their clients?

Launching an Initial Public Offering (IPO) is a key milestone for businesses as it allows them to raise funds from a larger investor…

This blog explores the advantages of embracing automation software within the realm of ITGC Auditing, highlighting how this technological evolution can revolutionize the…

In a riveting conversation at the GAM conference 2024 in Vegas, Lior Mistriel, a Partner at PwC Israel with over 17 years of…

Audit evidence is the foundation of an effective financial audit, giving the basis to an auditor’s perspective on an organization’s financial statements. Auditors…

The Public Company Accounting Oversight Board (PCAOB) is proposing significant amendments to its existing standards, AS 1105, Audit Evidence, and AS 2301, The….

The Public Company Accounting Oversight Board (PCAOB) is proposing significant amendments to its existing standards, AS 1105, Audit Evidence, and AS 2301, The…