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Future of audit

Gobish Gopalakrishnan (Financial Analyst) (276 Points)

27 February 2018

We have been hearing about Blockchain, Smart Contracts,Machine Learning, Artificial Intelligence and Big Data Analytics for quite a while. This video portrays an imaginative audit that might happen in near future taking these disruptive technologies into consideration which would ultimately pave way for a smooth and efficient audit process.

https://www.youtube.com/watch?v=uIcSfDdyQGc

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4 Replies

pankaj (a) (1262 Points)
Replied 28 February 2018

Nice one

CA Amrita Chattopadhyay (Audit & Assurance) (13459 Points)
Replied 03 March 2018

I think with the new technology the audit methods has to undergo change including the expectations from auditors and attitude of auditors

mrdrvz@gmail.com (126 Points)
Replied 15 April 2018

Blockchain is very slow to be of any use for big data and large scale use. Further, audit is more about interpretations and analysis than accuracy and manual errors. AI tech discussed gives a very dreamy picture with no concrete idea as to how the processes and work can be conducted. Data analytics has its limitations in the fact that wrong input at first stage may not get detected

CA Amrita Chattopadhyay (Audit & Assurance) (13459 Points)
Replied 16 April 2018

Though Blockchain, AI are at a very initial stage, no one can deny the fact that these technologies are to stay and it is high time for the auditors to adopt the new technologies.