Increasingly, the PCAOB is expecting auditors to understand how IT affects the audit and integrating IT into the audit.

Question

Quizplus · Accepted Answer

The PCAOB (Public Company Accounting Oversight Board) has issued several statements and guidance to auditors emphasizing the importance of understanding how IT (information technology) affects the audit process and integrating IT into the audit. This is in response to the increasing reliance on technology in financial reporting and the potential risks it poses to audit quality. Therefore, the statement is true.

Increasingly, the PCAOB Is Expecting Auditors to Understand How IT