PURPOSE

The purpose of this study is to analyse the impact of new technologies of Industry 4.0 in the auditing profession.

REQUIREMENT

The evolution of the "modern" auditing profession has been driven by the development of technology in recent years, as moving towards "Audit 4.0" (Dai, 2017). The use of new technologies in the audit profession can improve the audit processes, enhance the quality of the final work delivered and minimise errors.

You are required to prepare a report analysing the impact of Industry 4.0 on the auditing profession. The report should cover the following topics:

1. Introduction to Industry 4.0.
2. Discuss the challenges in implementing Industry 4.0.
3. Explain the impact of Industry 4.0 on the auditing profession.
4. Conclusion and recommendations on how Industry 4.0 can enhance the audit work to be effective and efficient for auditors.