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Audit technology pushes companies to get data in order

Tammy Whitehouse | November 28, 2017

Audit technology is advancing at a rate that suggests companies need to start thinking hard about their own technological capabilities to stand up to the audit process.

“It’s changing the way companies engage with us, the type of data we ask for, and what information we need,” says Roger O’Donnell, a partner at KPMG who heads up the firm’s use of data and analytics in audits. “Companies should be thinking about this in terms of how it impacts them.”

There’s plenty of hype and buzz over the future state of technology in business, and it’s present in audit circles as well, says Hermann Sidhu, global assurance digital leader at EY. “Artificial intelligence is going to be huge,” he says. “Blockchain is forever in the news. But audit firms can’t move by themselves. It has to be in conjunction with clients.”

Before artificial...

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