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The importance of cyber risk assessment has increased manifold due to the pandemic. Some of the cyber threats which has developed over the last two years during the pandemic were the ransomware where the attack has increased by 150% due to the "Work from home" culture.
This article aids in providing to understand the cyber risk and the audit approach by the auditors to comply with SA 315.
In this article, we would discuss some data analytics procedures which can be applied while taking up Insurance audit assignments.
Audit Quality Maturity Model (AQMM) is a tool for self-evaluation of audit firms & sole proprietors towards a technologically driven mechanism to increase operational efficiency.
The COVID 19 pandemic has bought unprecedented changes and uncertainties in the in the business environment. It had disrupted lives / labour force, business operations, insolvency risks, resulted in inflation and supply chain.
Each organization that is willing to adopt artificial intelligence will have to go through a few obstacles and difficulties which are needed to be overcome to ensure a fruitful journey to implement artificial intelligence.
The adoption of any new technology needs a strategic plan. When we discuss any new technology, it encompasses hardware, software, systems, methods and standard procedures.
The term artificial intelligence or machine learning was generally considered to the highly technical terms and generally used by the tech-savvy person.
It's time for the auditing fraternity to get out of their comfort zone of using Excel & MS office and adopt and experiment with newer technologies and scale up their business.
Audit Quality Maturity Model (AQMM) is a tool for self-evaluation of audit firms & sole proprietor towards technological driven mechanism to increase the operational efficiency.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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