The Growth of Auditing

In the world of finance, auditing serves a critical role in ensuring data accuracy and maintaining procedural integrity. Over the years, auditing has evolved from a limited basis practice to more widespread adoption.   As businesses…

THE ADAPTED FINANCIAL AUDIT METHODOLOGY

  Adapting the financial audit methodology to the requirements of an innovation audit may prove valuable. The innovation auditing discipline is relatively new and as yet few standards or formal procedures have been defined. The formality…

Enlightening Auditors' Paradigm in The New Era of Audit 4.0

Picture an image of an auditor and likely you will envision a person hunched over a clipboard, scanning endless columns of numbers. But, that image is outdated in the new digital era. Today, the hallmark of an effective auditor isn’t an…

AUDIT 4.0

  Traditional manual audits (Audit 1.0) have existed for centuries fulfilling many needs. Although the IT audit (Audit 2.0) emerged in the 1970s, and most all businesses are currently computer based, only about 15% of auditors are…
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The History Of Audit

Accounting and measuring evolved into more abstract mathematics had been seen in many even earlier civilizations, starting with the Sumerians (3000 B.C.), the Egyptians (2500 B.C.), the first Indus River civilization (2500 B.C.) and the…
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CREATING COGNITIVE AUDIT

While it's unlikely that auditors will be automated out of existence, cognitive technologies can bring value to the audit.   It’s likely that over the next several years, substantial portions of public and private company audits…
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The Future Role of Auditors with the Intervention from Cognitive Technologies

Over the next several years, substantial portions of public and private company audits will be augmented by cognitive technologies. In fact, much of the audit profession is experimenting with efforts to use various cognitive technologies in…
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New Credential, Standards Add Value to Valuations

Companies that issue financial statements in accordance with U.S. GAAP, and users of the financials, would benefit from a more rigorous, consistent, and efficient approach to valuation for financial-reporting purposes. The new qualification…
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How audit methodologies will change in the future

By Liz Farr, CPA   Alan W. Anderson, CPA, founder of ACCOUNTability Plus LLC, believes the question to ask isn’t “What is the audit firm of the future?” but “What is going to be audited in the future?” Auditing today…