Auditing technology

The human qualities of evaluation, analysis, and judgment remain an irreplaceable part of the audit process, and the use of technology can give the people on an audit the ability to focus on those higher - level skills rather than getting bogged down by mundane, rote processes

In this latest report, ACCA and CA ANZ have provided an overview of some of the various technologies which are likely to affect the audit profession in the near future

The technologies mentioned include data analytics, distributed ledger technology (DLT), robotic process automation (RPA), drone technology, machine learning (ML), amongst others

Such drivers include the rapid increase in volume of data, changes in business models, the shift towards automation and the demand for a proactive and forward-looking approach to audit

These developments require auditors to be technologically sound to enable them to continue servicing businesses and to execute high quality audits