Technology


The Digital Accountability and Transparency (DATA) Act of 2013, which expands disclosures of federal agency expenditures, was signed by President Barack Obama and could pave the way for adoption of XBRL for the reporting of federal budget and spending information.

“This is an important day for the American taxpayer,” AICPA President and CEO Barry Melancon, CPA, CGMA, said in a news release. “By signing the DATA Act into law, President Obama has paved the way for implementation of a system that will allow each and every one of us to more easily track federal spending data.”

The DATA Act is designed to provide a more transparent look into the expenditures of federal agencies and requires a nonproprietary, platform-independent data standard such as XBRL. The AICPA has promoted the expanded use of XBRL for government and business.

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Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.