The impact of the use of emerging technologies on the auditing profession - a theoretical study

Abstract

The research aims to identify the extent of the impact of emerging technologies, or known as “Fourth Industrial Revolution technologies,” on the auditing profession, as the use of these technologies in the auditing profession helps increase the accuracy of analysis. This is due to its superior ability to test the full set of data rather than limited samples. Auditors can take advantage of new technologies to achieve more audit-relevant information with better, real-time implementation and automation of data and processes, and thus some human shortcomings will be overcome when exercising professional judgment. This is reflected in improving the efficiency and effectiveness of the auditing process, as it must be noted that the use of emerging technologies in the auditing profession will include a strategic dimension regarding the ability of the economic unit to achieve its objectives, because new auditing methodologies adopt the concept of risk, which requires auditors to Calculations rely on advanced technology to determine the factors that prevent the unit from achieving its goals. The research reached a set of results, the most important of which are: The use of emerging technologies in the auditing profession will affect auditing work, as well as the role and practice of contemporary auditing in general, through three dimensions: 1) In terms of artistic and technological dimensions: where the use of these Technologies to enhance the audit process well from a technological standpoint. 2) From an economic point of view: These technologies work to reduce the costs of the audit process, and thus they will work to complete audit services efficiently, quickly, and save time due to their ability to complete more than one service for more than one institution. 3) In terms of professional dimensions: The use of emerging technologies will help implement strategic tasks for the auditing profession so that the auditor can carry out his tasks and issue his report. The research also reached a set of recommendations, the most important of which are: the necessity of keeping pace with technological developments, and paying attention to developing auditors’ skills to know emerging technologies and how to deal with them through holding training and scientific courses, in order to benefit from this technology in the auditing profession due to the unique advantages it enjoys.