Entries by atvfebuiadministrator

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Audit from Spy to A.I.

Beginning Audit was one of the oldest professions in the world, some archeologist found them in many cultures like the Egyptian and Greeks. Back then their job was to verify someone else’s report, and in ancient times they don’t have paper so they must listen to the report and verify it later. The first well-documented […]

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Can AI Replace Auditor ?

AI is no longer a theoretical possibility, it’s here. Artificial intelligence is moving beyond the popular image of self-driving cars and smart homes to become a large part of everyday life. It will continue to evolve, presenting us with great opportunities, but also a whole new set of risks to consider. Over 60 years ago, […]

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Big Data and The Roles in Auditing

Just like a storm, big data is the new wave that is taking over company operations. Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis. But it’s not the amount of data that is important. It is what […]

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4 Key Steps for Auditors in Assessing Technology Risks

Emerging technology has brought a seemingly endless set of new risks to the clients that engage CPAs to perform audits. It is are altering the financial reporting environment substantially, and this change is accelerating. For example, artificial intelligence (AI), robotic process automation, and blockchain are changing the way business gets done, and auditors are leading […]

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MISCONCEPTIONS ABOUTS AUDITORS

Auditing isn’t a very exciting career path If you’ve ever heard a joke about accounting or auditing, you know that the tagline is almost always about it being a boring profession. But this couldn’t be further from the truth. In fact, being an auditor gives you exposure to a very diverse range of industries and […]

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Corporate Accounting Scandals Throughout the Years

WASTE MANAGEMENT SCANDAL (1998) Waste Management Inc. is a publicly-traded US waste management company. In 1998, the company’s new CEO, A Maurice Meyers, and his management team discovered that the company had reported over $1.7 billion in fake earnings. The Securities and Exchange Commission(SEC) found the company’s owner and former CEO, Dean L Buntrock, guilty, […]

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Raft of Changes in Auditors’ Responsibilities

Raft of Changes in Auditors Responsibilities Kendall Tieck: “Auditing is mostly focused on evaluating the past and ensuring compliance. While that will always be important, auditing must evolve over time to “auditing forward.” By 2028, auditing will be dominated by communication, transparency and radical technological practices. A whole raft of changes should see audit in a […]