Increasing use of the World Wide Web for reporting purposes is challenging the very nature of financial reporting — its boundaries, its frameworks and even its fundamental role in society. In 1997, the CICA commissioned a research study to examine the issues that the profession needed to consider in relation to technology's impact on financial and business reporting. The study was intended to provide an overview of the extent to which the web is being used for financial reporting in North America. It included a review of literature and current practice, and a survey of 370 companies, drawn from the approximately 10,000 companies listed on the New York Stock Exchange, NASDAQ and the Toronto Stock Exchange. The results indicate a high and increasing use of the World Wide Web for presenting financial data.
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