What used to encompass just financial statement auditing has expanded to reports on internal control, information risk assessment, regulatory compliance auditing, and most recently, ethics and privacy auditing. As a result, accountants are no longer the only parties involved. Audits of today s complex business environment require specially trained persons in fields ranging from computer technology to law enforcement to management science and philosophy. It is important to note that while the scope and methodology of the audit have changed, its principle and role in society have not.
Electronic commerce poses especially interesting and critical challenges for auditing.
Such challenges include the issue of security and privacy within electronic commerce, public trust of security and privacy, assurance of security and privacy, and the interrelationships among the three. The primary obstacle hindering electronic commerce is the consumers and specifically, their confidence. The public is very much aware of the risks associated with electronic commerce and is extremely skeptical. Consumers need reasonable assurance of the integrity of the systems. They are constantly exposed to stories in the media of hackers, Cyber-terrorists, and violations of their privacy.