Innovation means the future for auditing is about more than just the numbers.
It is about opening the “black box” through the use of technology, helping us to perform a more comprehensive audit and provide organizations with deeper, more actionable insights into their financial statements and controls. With technology as an enabler, auditors can now focus more effectively on risk and their response to it, while challenging the audit in a way that simply was not possible before.
Technology will ultimately cause a shift in everything from inspection of evidence relating to random samples, to analyzing larger volumes of audit-relevant data that allows for targeted analysis of risk areas and potential anomalies. These new technologies are also about helping to ensure that auditors spend less time with the administration of an audit, and more time on thoughtful analysis of the data—essentially focusing on what matters.
No part of this website may be reproduced, transmitted or otherwise distributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission.
The content is provided solely for the purpose of enhancing knowledge on tax matters. It does not provide tax advice to any taxpayer because it does not take into account any specific taxpayer’s facts and circumstances.