Through the years, the auditing landscape has evolved, adapting to technological advancements that shape new standards within the industry. In the midst of these changes, nonetheless, auditing professionals continue to play a pivotal role in ensuring financial integrity and transparency.
Auditing is among the sectors that have best optimized technology capabilities. According to a report from the global professional services firm KPMG, technology transformed financial and data reporting, analysis, and insights, leading to higher quality and more accurate audits.
Before, the role of audit professionals focused primarily on traditional tasks, which involved paper audits, writing reports, visiting clients and reviewing companies’ accounting reports. At present, technology has significantly advanced financial and auditing management. It now streamlines auditing tasks, extracts data, tracks real-time data, and utilizes data analytics for audit transactions.
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