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Impact of New Technologies on Audit and Assurance

Impact of New Technologies on Audit and Assurance

From the 1990s and with the advent of innovation like the Web and digitized content, technology has changed the way we interact with the world.

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The concept of digitalization is necessarily new. From the early 2000s, we have seen organizations use technology to gain unprecedented levels of operational efficiency and thus, improve profitability. However, over the past few years, digitalization has gained steam. Organizations across sectors are being revolutionized by the digital transformation bug. Drivers for these transformations result from a combination of factors including:

  • Changes Impacting products and how they are consumed
  • Increased innovation in the technology space
  • Availability of low cost devices and thus accessibility of technology to a wide range of individuals.
  • Increased availability of data

This means that Companies have had to adopt a “sink or swim” approach to the adoption of varying digital business models to stay relevant.

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