Overview    

The IAASB (International Auditing and Assurance Standards Board) have published a new FAQ (Frequently Asked Questions) document on the risk of overreliance on technology and potential automation bias when conducting an audit.

This publication is a useful support tool and highlights the impact of technology when applying certain aspects of the International Standards on Auditing (ISAs). It focuses on specific considerations when using the capabilities of automated tools and techniques (ATT) and when using information produced by the entity’s systems. In particular, this FAQ considers how the auditor can address automation bias and the risk of overreliance on technology when using ATT and when using information produced by the entity’s systems.

The IESBA Code of Conduct was revised in October 2020 in respect of the Role and Mindset expected of professional accountants, and these FAQs specifically address automation bias.

This webinar will provide an overview of this useful tool by discussing the contents of these FAQs, and by acknowledging the possibility, understanding potential biases and recognizing the causes, which are the first steps in addressing the risk of overreliance on technology and potential automation bias when conducting an audit.

Join our technical expert Lettie Janse van Vuuren CA(SA) on 30 April 2021 from 10:00 a.m. to 12:00 p.m. as she unpacks these FAQs and considerations in an understandable format.    

Learning objectives   

  By the end of this event the attendee will:  

• Understand the impact of ever-changing technology when applying certain aspects of ISAs;
• Understand what automated tools and techniques are;
• Understand what automation bias is with reference to the revised IESBA Code of Conduct;
• Understand how to address the risk of overreliance on technology; and
• Have access to the full IAASB publication.

Content  

  The webinar will cover the following topics:  

• Overview & introduction.
• What are ATT?
• Using ATT in applying aspects of ISAs.
• Automation bias linked to the IESBA Code.
• Working through FAQs and answers.
• Addressing the risk of overreliance:
  • Implementing policies and procedures.
  • Designing or tailoring tech resources.
  • Enhanced training.
  • Building awareness and leveraging behavioural motivators.
• Access to the IAASB publication.

Obtaining your CPD certificate  

This webinar qualifies for 2 CPD hours with your professional body including: ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA. The SAAA CPD policy is compliant with IFAC IES7 and is recognised by all relevant professional bodies.  All attendees are issued with a CPD certificate available in an online profile.  

About the presenter 

Lettie Janse van Vuuren CA(SA), RA 

Lettie is a Chartered Accountant, Registered Auditor, as well as an Assessor and Moderator. She joined SA Accounting Academy in November 2017 as Head of Technical. As a professional trainer and webinar host, she is able to hold the attention of an audience with her relaxed and humorous presentation style.  She has a unique ability to communicate with delegates at their respective levels of knowledge and experience.  Over the last 20 years, she has trained thousands of partners, managers, trainee accountants and other professionals.  

She is responsible for researching, compiling and presenting our MCLU (Monthly Compliance and Legislation Updates). She was the Professional Development Manager at SAICA for 4 years and in charge of accrediting new training offices and monitoring existing ones (including the moderation of training offices and trainee assessments). 

Who should attend?  

  The following persons will benefit from attending this webinar:  

• Professional Accountants including: RA(SA), CA(SA), PA(SA) and BAP(SA);
• Accounting officers; and
• Audit trainees. 

Price         

• R 475.00 - Online admission - Individual. 

• R 950.00 - Online admission - Company.  

Steps to register for the event:  

If you already have a profile, login and register for the webinar. 

If you don’t have a profile, create a free profile then login and register for the webinar. 

Click here to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series). 

Click here to find out about the Technical Resource Centre & CPD Subscription options. 

Additional material 

  By attending this webinar you will be provided with: 

• Summarised slide presentation; 
• Detailed course material;
• Source documents for reference/resource library; and  
• You can ask questions during the webinar and you will also have access to the presenter after the webinar