Financial Reporting Ranks as Top Technology Issue

The American Institute of CPAs' top technologies list for 2002 ranks business and financial reporting at the top of the list. The topic rose from No. 3 in 2002. AICPA suspects this rise was driven by concerns raised in the wake of Enron. Wayne Harding, a member of the AICPA's Top Technologies Task Force and Information Technology Executive Committee, officially announced the 2002 rankings during a presentation at the AICPA's TECH 2002 Conference in Washington.

"The very nature of financial reporting - its purpose and significance - is now a major part of the national debate," explained Mr. Harding, "so it makes sense that reporting applications would figure so prominently on the list."

The full listing of the top ten issues for 2002, in order of importance, is as follows:

  1. Business and Financial Reporting Applications
  2. Training and Technology Competency
  3. Information Security and Controls
  4. Quality of Service
  5. Disaster Recovery (includes business continuation and contingency planning)
  6. Communication Technologies - Bandwidth
  7. Remote Connectivity Tools
  8. Web-based and Web-enabled Applications (Internet)
  9. Qualified IT Personnel
  10. Messaging Applications (e-mail, faxing, voicemail, instant messaging)

The rankings were determined by a web-based survey of those who hold the CITP (Certified Information Technology Professional) credential. Additional details are available on the applications, issues, technologies and emerging technologies included in the AICPA's survey.

-Rosemary Schlank

You may like these other stories...

If you're thinking that bitcoin and digital currency generally are merely some one-off flash in the pan, the new Digital Currency Council would argue otherwise. The council launched in September and already had 400...
Sponsored Content from Confirmation.com: AccountingWEB takes a look at confirmations in audit engagements, how they can serve as a doorway to fraud, and what you can do about it. Today, auditors have to fight fire with...
If your small-business clients are on the fence about cloud accounting, they've got plenty of company. A recent survey by market researcher and consultant Software Advice indicates a decidedly mixed view by respondents...

Already a member? log in here.

Upcoming CPE Webinars

Oct 21Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience’s communication style.
Oct 22This webinar will include discussions of important issues in AU-C 800, Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks.
Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30Many Excel users have a love-hate relationship with workbook links.