My opinion has shifted to realize how much more detailed audit is. I realize it is not
Question:
My opinion has shifted to realize how much more detailed audit is. I realize it is not as simple as comparing items for accuracy and looking for discrepancies or fraud; it so much more. I've barely been able just to keep up with the class and my job let alone thinking I could do the job, LOL, but I'm still fascinated by it. There are so many things to remember; I don't know how anyone could, which is a negative, but that's where the challenge is that makes it worthwhile.
In reading that article in resources "The adoption of robotics in the auditing profession" and thinking about it; I can see how technology changing could be good and / or bad depending on the perspective and how much we rely on it. Technology can make us more efficient; auditing technology can do all the data calculations and search for discrepancies, which is time consuming if it's programed to do so. One thing it cannot do is think. AI is going to be confined by the logic it's programmed by and would not be able to think outside the box which I believe would still make the human aspect relevant. Having said that it could make the profession so much more efficient that there is not a need for as many people as there are completing an audit. This could change the industry as a whole to use technology more and, unfortunately, this will possibly become an even more complex profession because of it
DIRECTIONS:
In responding to your peer post above, Comment on whether you share their viewpoints about how their perception has changed and the future of auditing.
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta