Global Web Auditing Standards: Time for a Change?

Abstract

The current audit guidance for web-based financial information was devised at the beginning of the Internet era, but it hasn't been revised since. However, companies have adapted their business reporting to take advantage of modern web reporting options—including using financial intermediaries and investor relations specialists. So despite the technological advancements in digital financial reporting, auditing standards have not kept pace. Isn't it time for a change? The authors review the outdated auditing standards for web-based accounting reports and compare them to the state of modern website management. © 2014 Wiley Periodicals, Inc.