Organizations are changing. Information technology is increasingly being used to digitize existing business processes or create entirely new business models. Emerging technologies are transforming the way the world lives and works. Learning to identify the transformative power of technology is a must for organizations in all industries to succeed. And these technological revolutions in auditing are leading to less mechanical and more creative work for professionals in the field.
What most organizations have in common is that they are required or voluntary to publish their financial statements. Audit professionals verify the reliability of these statements by performing procedures prescribed by laws and regulations. The procedures of auditing
are automated or outsourced to minimize the effort required to comply with these laws and regulations. Technology is still underutilized to increase insights provided by a auditing or enrich the customer experience. Recently, this has started to change. Companies are expecting more from their auditors, which is leading to changes in the way
auditing is carried out and in the way in which the results of the auditing are presented.
Every day, the work of auditing
it helps with decisions that affect the direction of the business, how to formulate those decisions, and how to find and process the data that support these decision-making models. Applications do the accounting and for the entrepreneur. A small business owner, for example, does not need to learn about accounting. He can go straight into the business but still comply with all the regulations like payroll and income tax.
Thus, innovations in the area of accounting and auditing
are freeing business professionals and small business owners from mechanized work, allowing them to focus on growth and innovation.
Robert Nehmer, PHD and professor of accounting and finance in the US, has devoted his research to examining the effects and applications of technology in accounting and auditing. He states that “in the auditing, we are seeing a revolution using technology to auditing and continuous monitoring, starting with auditing
internal”. He also said that “The process of auditing
is undergoing a reengineering in which the more structured parts of the auditing are taken from the less structured parts. Structured processes are then automated, leaving humans to make the most difficult and critical decisions in the auditing. For organizations, these advances mean better, more accurate controls for lower costs.”
Emerging innovations and technologies are increasing the relevance of auditing in audits of financial statements. On the other hand, customer expectations are driving auditors to become more innovative within the auditing, requiring the use of these technologies. This process still has challenges due to external regulations, upfront costs and changing qualification requirements. However, the impact of feedback
positive number of customers using new technologies within the auditing.
Get in touch with TATICCA – ALLINIAL GLOBAL, which works with integrated auditing services, internal audit, accounting, tax, corporate finance, financial advisory, risk advisory, technology, business consulting and training, for more information, visit www.taticca.com.br or e-mail taticca@taticca.com.br and learn more. Our company has certified methodologies for carrying out activities.