ITAC Recent Activities

Agenda for Action To highlight the major technology issues facing us today, the CICA’s Information Technology Advisory Committee (see About ITAC for Terms of Reference) has prepared a list of the most important IT issues. The list focuses on the Canadian accounting and auditing profession, and stresses issues rather than technologies. In most cases, the technology involved is only part of the overall issue. The human element is often equally important, as are the management and organizational implications of the issues.

In preparing the list, ITAC consulted with a wide range of members of the profession. It sought feedback from the Big Four firms, a selection of medium and small firms, CICA’s IT Alliance (about 400 IT specialists and subscribers), the Toronto Chapter of ISACA and others from across Canada. Feedback was also obtained at the CICA’s IT Audit, Governance and Security Conference. ITAC appreciates the profession’s input. The feedback is very helpful in developing its agenda for action. For more information, refer to "The Top Ten IT Issues" (CAmagazine, September 2010), "The Top Ten IT Issues" (CAmagazine, September 2009), "Top Ten Tech Issues" (CAmagazine, September 2008).

Current Activities
Recently, ITAC published a White Paper on Data Centric Security. ITAC also recently released a two-part podcast that explores the technology implications of IFRS; leveraging the lessons learned in Europe. The IT and IFRS issues that were covered: property, plant and equipment, leases, consolidations, management reporting, and a look at IFRS from an overall IT strategy point-of-view. This discussion is also available in a “slidecast” (i.e. podcast synchronized with PowerPoint slides). The slidecast is eligible for CPD credit, upon successful completion of the CPD quiz.

Two new projects are now underway: a research report on “Data Level Assurance” and a research study on “Information Integrity Guidelines.”

ITAC develops White Papers to increase awareness of IT topics considered significant to the accounting profession and the business community.  A number of new white papers and "20 Questions" are currently being undertaken on the following topics: IT Strategic Planning For SMEs, "20 Questions Directors Should Ask about E-mail", "20 Questions Directors Should Ask about Security", "RFID: The Audit Trail Goes Wireless". (see ITAC Publications for a complete list).