New developments offer new opportunities
Cloud. Blockchain. Data and analytics (D&A). Robotic process automation (RPA). Drones. Intelligent automation (IA). These advanced technologies are revolutionizing the business landscape, drastically transforming the way companies work. And just as the business world is changing, the audit profession is adapting and adjusting the way it works. Auditors are utilizing these advanced technology tools to collect, analyze, and – most importantly – understand the vast amounts of client data so they can continue providing quality audits that offer even deeper insights into their clients’ organizations.
The result is that auditors can spend more time gaining deeper perspectives about the client’s processes, inventory and systems controls, which they can share with management and boards via the audit. In fact, more than 74 percent of corporate ﬁnance executives say their auditors use advanced technologies, and 94 percent believe that this improves audit quality.