Future of Audit

What is Transforming Audit?

The audit of the future is no longer just a vision but a reality in motion. With emerging technologies such as artificial intelligence, blockchain, and real-time data analytics, the industry is evolving quickly.

These advanced technologies help improve audit quality and speed. They also allow professionals to work more efficiently. Now, they can focus on deeper insights and strategic decisions. This enhances efficiency and value.

At KPMG, we call this change Transforming Audit. It is about delivering smarter, more efficient digital engagements while keeping the human element at the center.

This page offers insights into how auditing firms can stay ahead. We support you in managing innovation and adapting to change in your assurance work. Our insights clarify key trends and prepare you for the future. Discover various resources, including articles, interviews, surveys, expert insights, and publications, to explore key trends and understand how to prepare for the future.

Explore key content – In the following sections, we take a closer look at the four key pillars shaping the future of audit: Technology, People, Trust, and ESG.

See how digital auditors are changing the game and why industry standards are shifting. Discover how AI-powered tools improve compliance and add value. Learn how to use these tools to stay competitive in the audit services market.

What challenges does digital transformation bring to auditing?

Digital transformation is reshaping auditing by introducing complex new challenges. Auditors must now manage traditional financial risks. Additionally, they face new threats from cybersecurity. The use of AI-powered tools, while helpful, creates challenges because of their complexity and lack of transparency.

As technology becomes more common in financial reviews, stakeholders expect more. They want clearer reports and stronger results. In addition to traditional financial figures, Financial statements must also include reliable data on non-financial disclosures related to Environmental, Social, and Governance (ESG) aspects.

To effectively navigate these changes, auditors must adopt advanced technologies such as artificial intelligence, blockchain, and continuous auditing practices. These tools help improve accuracy, responsiveness, and efficiency, enabling auditors to provide deeper insights and timely responses to risks.

Additionally, auditors need to expand their assurance roles to include responsible technology use, data governance, cybersecurity, and effective digital communication strategies.

However, technology alone is insufficient. The nuanced and ethical judgment of auditors remains critical in maintaining trust and transparency.

A human-in-the-loop approach balances technological advancement with essential human insights. This approach ensures audits remain effective and reliable. As a result, it also builds stakeholder confidence in the digital age.

Explore key content on Transforming Audit

Technology

Innovation audit is central to modern practice. Advanced technologies help professionals work smarter and faster. These innovations enable auditors to focus more on strategic areas. They help deliver deeper insights and higher value through more effective digital audits.

Learn about trends like AI-powered tools, real-time data analytics, and better security in digital processes. These innovations help digital auditors create more value and build trust.

Emerging Technologies transforming the future of auditing
Explore the powerful combination of blockchain, predictive analytics, and automation with human insight that is reshaping audit processes and unlocking new levels of efficiency and value.

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AI in financial reporting and audit: navigating the new era

Our global survey reveals how AI is revolutionizing financial reporting and auditing, moving from manual processes to intelligent, real-time systems that deliver predictive insights.

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Anti-Money-Laundering-Audit

Discover how KPMG empowers financial institutions to navigate complex AML regulations through real-time risk insights and customer-level analysis, helping them combat money laundering and terrorist financing with confidence.

Read our article

Explore more:

Corporate Responsibility Overview 2023 2024

The crucial role of data governance

AI’s transformation continues: Organizations should focus on quality

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AI based Audit

Technology Capability as Imperative:
Why AI is a Must in Auditing

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People

Digital transformation significantly impacts auditors’ roles, requiring new skill sets and approaches. Auditors must now combine technical expertise with innovation and strategic thinking. KPMG supports audit professionals in developing new competencies, encouraging them to embrace technology while maintaining crucial human insights. By fostering a culture of continuous learning, auditors can confidently adapt to new challenges and opportunities in the digital era.

The development of the auditor in the digital age

Explore how digital transformation, continuous auditing, and ESG are reshaping the audit profession, creating new opportunities and challenges.

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At the start of the learning curve

Our expert Professor Reto Eberle explains how AI, regulation, and digitalization are reshaping the audit industry and why auditors are only at the beginning of this transformation journey (in German).

Read the interview

Trust

Trust is foundational in the digital transformation of auditing. As technology changes how audits are performed, maintaining trust requires balancing advanced digital tools with robust human judgment.

Auditors play a critical role in managing cybersecurity threats, ensuring transparency of AI-driven systems, and safeguarding sensitive information. This combined approach helps firms create dependable audit environments that meet evolving stakeholder demands.

Human judgment and technology
as cornerstones for trust

Our client survey reveals that while technology is essential, true value arises when human judgment and digital tools are combined to foster trust and transparency in audit.

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Assurance is becoming increasingly important

Our expert Stefan Wälti highlights how digitalization, ESG, and AI are raising the stakes for trust and security and why assurance is critical to close gaps and strengthen transparency (in German).

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ESG

ESG considerations are redefining the role of auditors. Auditors must now assess not only financial risks but also evaluate the accuracy and transparency of ESG-related disclosures. This shift demands deeper insights into companies’ environmental impact, social responsibilities, and governance practices.

Discover how KPMG supports clients with ESG reporting, data analytics, and compliance. Real-time monitoring and advanced analytical tools enable auditors to effectively measure and validate ESG performance, fostering stakeholder trust and ensuring robust compliance.

A strategic approach to success with ESG reporting
Gain insights from KPMG experts on how to tackle ESG reporting challenges strategically and implement smart solutions to stay ahead of rising regulatory demands.

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ESG in reporting & assurance

Regulatory pressure is rising. Learn how companies can meet complex ESG disclosure requirements and communicate their sustainability strategy with confidence and clarity

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Reach out to our experts

Do you require further information or tailored support? Contact our KPMG experts to discuss how your organization can navigate digital transformation, leverage advanced technologies, and ensure transparency, efficiency, and trust in your audit processes. We are committed to supporting you throughout your transformation journey.

Contact our experts