Four (12 marks) A number of emerging technologies that are currently changing or are likely to change the audit profession in the near future are covered in your group presentations. In general, it is believed that these emerging technologies will benefit the audit profession by enhancing the audit effectiveness and efficiency. However, there are also people who believe these emerging technologies have negative impacts on the audit profession. Required: (a) Identify and briefly define one emerging technology that is currently being adopted or likely to be adopted in the near future to change the audit process. (Note: Only the first 50 words will be marked.) (2 marks) (b) Explain how the emerging technology you have identified in (a) above can help auditors carrying out a financial statement audit more effectively and efficiently by providing a specific example of the current application of the technology. (Note: Only the first 150 words will be marked.) (6 marks) (c) Discuss the impacts brought by the latest technologies to the audit profession. (Note: Only the first 100 words will be marked.) (4 marks)