Audit professionals must keep pace with the ongoing digitization of their environment and develop their own strategies for handling this.
Digitization of business processes and internal control systems opens up new opportunities for audit automation and audit digitization. This leaves audit professionals free to focus on the key aspects of their work.
The shape of the audit of the future will be influenced by attitudes to the value of benefits offered by automated analyses as compared to professional judgment based on professional experience and knowledge of specific industrial and commercial sectors. Optimal use of both will enhance quality of intelligence gleaned from the audit.
The bottom line for audit professionals is “Digitize or die”.
