Read the following Forbes article, Do we need new laws forcing the external auditing of social media algorithms? (Links to an external site.).

In this article, the author examines the potential need for further scrutiny and auditing of the figures and results produced by companies operating social media platforms.

After reading the article, address the following questions in your posting:

• How are financial statement auditors suited to take on this proposed new role?
• What additional knowledge, expertise, or skillsets might be required of the auditors in order to effectively complete the task?
• If auditors were tasked with this type of responsibility, how might it alter their engagement planning and fraud risk assessment procedures?