The current trend of increasing robotics (AI) in the accounting field. With the increase of computers
and information systems in an increasingly paperless age, it has become more and more necessary
and beneficial to implement automated systems. There are many benefits to having an automated
system in reference to auditing. It can assist in a quicker and more accurate analyzation process as
well as provide tools for evaluating and calculation real time ratios.
Some negative aspect about automating the Auditing field would be loss of jobs for people like me :)
However, it can be augured that it is merely a tool for auditor to make their job easier. The startup
cost may be too great for smaller companies, but it would be financially beneficial in the long run
for companies that can afform to invest in the implementation of the systems. An additional risk
that I can see it the security risk involved. Addition security features would need to be implemented
to prevent fraud and unauthorized adjustments.
I personally have always been a paper backup kind of person, however with all the benefits of
utilizing an automated system I believe that it would make an auditor’s job easier, more accurate,
and efficient.
It is important to always pay attention to industry trends to remain prepared for future audits.
Deloitte, a large accounting firm talks about integrated assurance and cyber internal audits as two
major trends and innovations of the future. Improving auditing procedures and activities is a large
focus of auditing trends.
The utilization of integrated assurance allows for increasing the visibility of risks and allows for
viewing of the company's risk management plans. This also helps to decrease organizational
burdens, create dependable business transactions, and further company insight strategies (White
&Adams, 2019). On the other hand, cyber internal audits are used to protect businesses from cyber
activity dangers. Internal audits find cyber activity perplexing as there is a great loss of resources.
N. White & S. (2019, March 19). Internal Audit Future Trends. Retrieved October 27, 2022 from
https://www.2.deloitte.com/us/en/pages/risk/articles/internal-audit-future-trends.html
Ashoka, M. L., N., A., & M. S., D. (2019). Emerging Trends in Accounting: An Analysis of Impact of
Robotics in Accounting, Reporting and Auditing of Business and Financial Information. International
Journal of Business Analytics & Intelligence (IJBAI), 7(2), 28–34.
https://eds-p-ebscohost-com.ezproxy.snhu.edu/eds/pdfviewer/pdfviewer?vid=4&sid=58c1bfa4-
ceca-4377-b5fe-3e3ee92172d9%40redis
