New Delhi, February 18 The Institute of Chartered Accountants of India (ICAI) will release the Information Systems Audit Standards later this month.
The Information Systems Audit Standards (ISAS) aim to strengthen the audit process within the country's digital ecosystem.
The institute will be releasing 11 ISAS.
ICAI President Prasanna Kumar D said on Wednesday that this would be the first time a professional institute would be releasing such standards, and added that its central council approved the standards earlier this month.
According to the institute, ISAS would establish a direct link between system controls and financial reporting integrity.
"In an environment where financial statements are ERP (Enterprise Resource Planning)-generated, system-processed, algorithm-driven, and cloud-hosted, strong information systems controls are essential.
"By strengthening assurance over automated entries, revenue systems, core platforms, and technology-based processes, ISAS enhances the reliability of digital financial reporting and reinforces stakeholder confidence across the ecosystem," it said in a note.