With technology advancing at an unprecedented pace and enabling organizations to harness and analyze more data than ever before, the financial audit is poised for profound and rapid change.
With technology advancing at an unprecedented pace and enabling organizationsto harness and analyze more data than ever before, the financial audit ispoised for profound and rapid change. Technology, combined with the expertiseof today’s skilled auditor, allows audit professionals to take a muchdeeper dive into the financial facets of an organization and provide insightsthat result in more-informed decisions in support of a high-quality audit.
To learn more about what organizations expectfrom audit in the future, Forbes Insights, in conjunctionwith KPMG, surveyed 200 CFOs, chiefaudit ocers, chief tax ocers, audit committeemembers and other financial executives. Wefound that organizations are seeking enhancementsin a number of areas, including risk management,fraud protection, a forward-trendingview of data and identifying critical issues for management.
This report analyzes areas in which audit needs toevolve and what auditors need to do to keeppace with the changing expectations of clients.Organizations are increasingly expecting morefrom audit and a more forward-looking view thathelps identify and address critical issues. Moreimportant, while organizations understand thattechnology will continue to evolve, they want tosee some significant changes in the approach toaudit sooner rather than later. The future is now,and auditors must embrace it.
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