Currently, more complex audit procedures have become more automated due to the routine nature of these tasks. This shift from the more traditional audit to the more automated audit in the future will not happen because auditors choose to do so. A main driver of Audit and Big Data application by auditors is client-side demands. Changes in audit methodologies and technologies have been promoted by several large audit firms in response to the challenges of the information age. The need for Artificial Intelligence (AI) driving Audit Data Analytical tools has been brought about by client demands and the need for new perspectives related to fraud detection and prevention techniques used by auditors.

REQUIRED:

What issues or concerns has automation created for the audit and forensic accounting services market? Discuss your answer using complete sentences and using examples of real cases of fraudulent activities and relevant research discussed during the semester (do not write in point form).