There is increasing use of the internet for business to consumer, business to business, business to government and business to employee eCommerce brings a new realm of risk that needs to be considered when planning and performing the audit of financial statements. There is thus need for auditors to address e-commerce issues by focusing on, among other matters the level of skills and knowledge required to understand the effect of e-commerce on the audit; the business, legal, regulatory and other risk faced by entities engaged in e-commerce activities; internal control considerations, such as an entity’s security infrastructure and transaction integrity; and the effect of electronic on audit evidence.
Posted on: Thu, 04 Sep 2014 10:25:21 +0000
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