To print this article, all you need is to be registered or login on Mondaq.com.
On May 10, 2021, the FCC unanimously adopted final rules in
a Report and Order to implement the $7.17
billion Emergency Connectivity Fund
Program ( ECF Program ). The ECF Program is a
fund that enables schools and libraries to purchase laptop
and tablet computers, Wi-Fi hotspots, and broadband connectivity
for students, school staff, and library patrons in need during the
COVID-19 pandemic. The ECF Program was funded by the American
Rescue Plan Act of 2021 signed by President Biden in early March.
Along with the Emergency Broadband Benefit
Program ( EBB Program ), the ECF provides
To print this article, all you need is to be registered or login on Mondaq.com.
In February, the Consumer Technology Association (CTA) announced
a voluntary standard for healthcare products that use Artificial
Intelligence (AI). This standard follows the Food and Drug
Administration s (FDA) recently published action plan for regulatory oversight
of AI and machine learning-based medical software. FDA ultimately
determines the regulatory process and requirements to legally
market AI healthcare products, generally reviewing products to make
sure they are safe and effective for the consumer market. FDA has
worked to adopt a new regulatory framework for AI/ML software
Greater Emphasis on Planning
Auditors and their clients must coordinate the process,
especially for activities traditionally done on-site that are now
being done remotely. For example, is the technological
infrastructure in place to support necessary information and
document sharing and verification?
Increasing Reliance on Cloud-Based Solutions
Before COVID-19, many companies were exploring the
benefits of cloud-based accounting software. The pandemic
accelerated this trend. Similarly, cloud-based auditing solutions
have become a critical tool for managing and conducting audit
procedures.
Expanded Fraud Risks
The pandemic has led to new fraud risks, requiring
auditors to reevaluate their risk assessments and, in some cases,