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NOVEMBER Features
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The CPA Journal Millennium Series
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| Accounting in 2015
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By Michael
Alles, Alexander Kogan, and
Miklos A. Vasarhelyi
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The single greatest change
agent facing accounting in the next 15 years is technology.
The foundations of the profession will be eroded by the
opposing demands of emerging services and established values.
In the convergence of business and technology, CPAs will
have to prove their value to a new economy. (Article)
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Auditing E-business
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By Bruce H. Nearon
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Auditing the financial
statements of e-businesses according to GAAP presents a
significant challenge for CPAs. Current GAAS has numerous
standards relevant to e-business; the author brings them
together into a single guide for applying GAAS to audits of
e-businesses. (Article)
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| SysTrust and
WebTrust:
Technology Opportunities for
CPAs
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By Anthony
J. Pugliese and Ronald Halse
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The technology trust gap
provides a need for independent assurance of technology
systems. The AICPA's SySTrust assures businesses of the
reliability and integrity of their information technology
systems. Under the new WebTrust, CPAs provide e-commerce
assurance services in various areas, including privacy and
security. (Article)
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| How XBRL Will
Change Your Practice
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| By Eric E. Cohen and Neal Hannon
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XBRL (extensible business
language) is the emerging electronic communications technology
that will make timely, quality financial reporting possible.
Once XBRL becomes widespread, it will streamline business
transactions from regulatory and tax compliance to internal
performance measurements. The authors look in their crystal
ball to see what XBRL has in store. (Article)
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Voice Recognition Software
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By Bobby E. Waldrup, Jeffrey Michelman,
and Maxine L. Person
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Voice recognition software
allows users to control their computer using their voice
instead of a keyboard and a mouse. Although it promises to
make computer applications more user-friendly, the authors
report difficulties in adapting to the technology's
limitations. Off-the-shelf packages are not necessarily ready
for the demanding CPA user. (Article)
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