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Audit
Technology - Law & Shen, 2020
| Question | Answer |
|---|---|
| use of AI will increase | - demand for soft skills - accuracy for going concern and internal control opinions |
| AI wont replace auditors but will | change skills required for the job |
| AI has caused a decrease | in the growth rate of audit jobs - jobs still being offered just not at the rate (companies less worried about necessity of large recruitment) |
| auditors being displaced by AI could mean | - disruption in auditors future careers - clients : how will audit work be conducted (replacing humans overlooks complexity of audit)- - regulators : qualitiy and design implications |
| human judgement needed | to allocate resource and carry out tests on high risk areas |
| AI cannot replace | social interactions required by auditor |
| no evidence of audit fees | decreasing from AI use - are companies increasing margin |
| how does AI increase quality | decreases likelihood of errors and identifys better areas for audit |
| how to understand long term AI impact | track evolving implications of AI in audit |
| employers need to | adapt approach to combat challenges of attractiveness to the profession |
Created by:
amyperston
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