Future of audit

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We have been hearing about Blockchain, Smart Contracts,Machine Learning, Artificial Intelligence and Big Data Analytics for quite a while. This video portrays an imaginative audit that might happen in near future taking these disruptive technologies into consideration which would ultimately pave way for a smooth and efficient audit process.

https://www.youtube.com/watch?v=uIcSfDdyQGc

Replies (4)
Nice one

I think with the new technology the audit methods has to undergo change including the expectations from auditors and attitude of auditors

Blockchain is very slow to be of any use for big data and large scale use. Further, audit is more about interpretations and analysis than accuracy and manual errors. AI tech discussed gives a very dreamy picture with no concrete idea as to how the processes and work can be conducted. Data analytics has its limitations in the fact that wrong input at first stage may not get detected

Though Blockchain, AI are at a very initial stage, no one can deny the fact that these technologies are to stay and it is high time for the auditors to adopt the new technologies.


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