Impact of Technology on Reporting Revealed
Technology impacts financial and business reporting, but to what extent? The Canadian Institute of Chartered Accountants (CICA) recently concluded a study examining the impact of technology on financial and business reporting and related issues the accounting profession needs to consider.
The study found that “the Internet is changing the boundaries, framework, and the fundamental role of financial reporting in society.” Because financial reporting on the Net is high in North America, some considerations must be made to embrace this technology.
Considerations include the impact of electronic on-line reporting on content, timing and format of financial information, and the integrity of electronic financial information. The study also explores the implications of electronic on-line reporting on current accounting models.
The study may be obtained from the CICA via email or call their order department at 1-800-268-3793.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.