New Working Group Focuses on Impact of Science & Tech on Auditing
The Working Group on Impacts of Science and Technology on Auditing (WGISTA) was officially formed at the XXIII International Organization of Supreme Audit Institutions (INTOSAI) Congress in Moscow.
Chaired by the State Audit Institution of the United Arab Emirates (UAE) with the U.S. Government Accountability Office (GAO) acting as Vice Chair, the WGISTA will focus on key trends in areas, such as artificial intelligence, blockchain technology, cybersecurity, data analytics, 5G cellular network technology, machine learning and quantum computing.
WGISTA primary strategic objectives include conducting environmental scanning; sharing best practices; maintaining expertise within Supreme Audit Institutions (SAIs); applying science and technology in auditing; and developing competencies required by SAIs and auditors.
The WGISTA concept evolved from the work of the Supervisory Committee on Emerging Issues, which identified science and technology trends as key issues that would increasingly affect governments and SAIs in the future.
An interim task force was established at the 2018 INTOSAI Governing Board meeting in Moscow, Russia, to develop Terms of Reference for the new working group. The task force, led by SAI UAE and U.S. GAO, included the American Institute of Certified Public Accountants; Audit Board of the Republic of Indonesia; China National Audit Office; Institute of Internal Auditors; INTOSAI Development Initiative; Office of the Comptroller and Auditor General of India; Organization for Economic Cooperation and Development; Pacific Association of Supreme Audit Institutions; United Nations Department of Economic and Social Affairs; and the World Bank.
With the WGISTA established, INTOSAI now has a forward-looking working group to monitor potential impacts that science and technology may have on the audit profession; share this specialized knowledge and experiences; and ensure INTOSAI’s work remains relevant and impactful.