Are Your Firm's Decisions Based on Reliable Information?

Source: AICPA Insights

In this blog entry, Erin Mackler discusses the importance of information accuracy in today's culture, in which we have instant access to so much information. Mackler says that in order for information to have “integrity,” it's important to consider whether it's accurate, relevant, precise, timely, and complete. Information with integrity is fit for use in making business decisions.

Mackler describes an AICPA paper that helps professionals determine how to achieve and maintain information integrity. The paper addresses: 1) How the vast amount and complex nature of information impact practitioners, users, service organization assurance providers, and information preparers, 2) the information life cycle, the requirements for information integrity assurance, and the risks of some kinds of information, and 3) how to have and utilize information integrity, adding value and minimizing risk.

Mackler asks if your firm is “filtering” information in order to make the best possible decisions.

For the complete blog entry, read “With So Much Information, Who's to Say What's Accurate?”

From AICPA Insights, March 11, 2013, http://blog.aicpa.org.