Digitalization is revolutionizing the audit profession by integrating advanced technologies such as artificial intelligence (AI), big data analytics, and automation into auditing processes. These technologies enhance auditors' ability to analyse vast amounts of data efficiently, identify anomalies, and improve risk assessment. AI-powered tools can detect patterns and irregularities that may not be easily recognizable through traditional audit methods, while automation reduces human error and increases audit efficiency. As a result, auditors can focus more on strategic analysis and judgment than routine data processing. However, this shift also requires auditors to develop new technical skills to effectively utilize these digital tools and interpret their outputs accurately. Despite the numerous benefits of digitalization, it also introduces several challenges for auditors. One major concern is the increased reliance on technology, which may lead to overdependence on automated systems, reducing auditors' critical thinking and professional scepticism. Additionally, ethical issues arise when auditors use AI-driven decision-making, particularly in cases where transparency in algorithmic processes is lacking. There is also a growing digital divide among audit firms, where larger firms with greater resources can adopt advanced technologies more rapidly than smaller firms, potentially creating disparities in audit quality. Moreover, cybersecurity threats and data privacy concerns must be addressed to maintain trust in digital audit processes.
A Mon, study studied this question.