Technological advances over the last ten years have become so interwoven with the accounting profession that it's hard to conceive how we could or can function without them. The AICPA just released the 2001 Top Ten Technology list.

"We're not surprised that security emerged as the most critical technology issue," said Alan Anderson, AICPA Senior Vice President - Technical Services. "The AICPA has long recognized the importance of information security, which led to the development of new services such as SysTrust and WebTrust."

The AICPA addressed the financial reporting issue in its XBRL initiative XBRL.ORG which involved the creation of an XML-based specification for the preparation and exchange of financial information across all formats, including the Internet.

The Top Ten Technology issues for 2001, in order of importance, are as follows:

1. Information Security and Controls
2. E-Business
3. Elecronically Based Business and Financial Reporting
4. Privacy
5. Training and Technology
6. Disaster Recovery
7. Quality of IT Personnel
8. Quality of Service
9. Electronic Audit Trail
10. Application Service Providers

In addition, there are lists for Top Ten Applications and Top Five Emerging Issues. Further details may be found at TopTenTechs.

For more details visit the AICPA site.