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 | The Terms of Reference for the CICA's Information Technology Advisory Committee (ITAC) are as follows: Mandate
The Committee is established primarily to provide support and advice to stakeholders with respect to information technology matters as they affect the profession. As such its focus is on: - emerging information technology issues that are of significance to assurance and advisory services, financial or business reporting, internal control and information systems, and
- responding, commenting and providing advice and assistance on information technology matters affecting the stakeholders.
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Composition of the Advisory Committee
To ensure that the Standards and Knowledge Development Groups at CICA are kept abreast of technological developments and their impact on accounting and auditing, the advisory committee will comprise IT professionals from CA firms, industry and the public sector and CICA staff knowledgeable in information technology issues (see CICA Volunteers for a list of current members). The Advisory Committee reports to the Vice President, Knowledge Development. Responsibilities
The Committee’s responsibilities under its terms of reference are: - To raise awareness and understanding of IT issues affecting the profession and the business community and provide advice on the impact of IT on internal control, information systems and governance;
- To identify and comment on significant national and international developments in information technologies that may be relevant to the standard-setting boards, education services or other CICA activities;
- To review drafts of CICA standards so as to identify whether there are issues relating to technology that have not been addressed or may not be addressed appropriately;
- To review Auditing and Assurance Standards Board (AASB) project proposals so as to provide guidance on the subject matter and scope regarding information technology matters;
- To coordinate and prepare research study, research report and audit technique study project proposals on behalf of the Research Studies Department for accounting, financial statement presentation, business reporting and auditing and assurance issues that significantly involve information technology (when the subject of a proposal falls under the purview of a Standards board, it would then be passed along to that Board for its consideration and approval);
- When appropriate, to assist in Standards board projects that are impacted by information technology, either as researchers or observers, and provide input to a standards activity when it is apparent that technology might impact on the application of a particular standard;
- At the discretion of the Committee, to assist other areas at CICA relating to information technology, if requested.
Stakeholders
The following have been identified as the stakeholders of ITAC: - CICA boards and committees;
- Business communities (boards of directors, chief financial officers (CFOs) and other management executives, internal auditors and business and professional advisors;
- Practitioners and members in industry and government.
ITAC publications are also likely to be of interest to the general public. |
