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The audit of the future

Written on Jul 26, 2018

The audit is evolving, and users want more than generic pass/fail reporting.

“Users want specific, actionable observations; observations beyond the financial; and future-focused, rather than historical perspectives,” writes Laura Hay, CPA, in the July/August issue of CPA Voice. “The CPA continues to be an opportunity profession, but to attract the next generation with the skillsets to deliver on this expanded expectation, the audit needs to become less about compliance and litigation defensibility, and more of an exploration, requiring curiosity and the application of independent judgment.”

Mainstreaming technologies such as data analytics and artificial intelligence allow the audit to examine entire data sets and use analytics tools to detect patterns and anomalies. When it comes to risk management, business complexity has heightened the importance of risk identification and gaining an understanding of an organization’s risk management policies and practices.Voice_2018_July_August

Read more ways the profession is leading the audit transformation now.

Don’t miss this convenient, self-study CPE

Did you know that reading CPA Voice can help you satisfy your CPE requirement? No matter your location or the time of day – and even without the benefit of electricity – you can gain CPE credit with each issue.

Every edition includes a 12-question self-assessment exam covering content from that issue. Receive a grade of 75% or higher and you’ll earn one hour of CPE credit in specialized knowledge.

Best of all, you can take the exam when and where it’s convenient for you, either online or by mail. Exams remain available online – and may be completed for CPE – through the same month of the following year.

July/August 2018 exam