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The benefits and struggles of marrying audit with new tech

Joe Mont | March 19, 2019

The accounting and auditing worlds have come a long way from the days of ubiquitous HP 12c calculators.

As is the story throughout the business world, emerging technologies are revolutionizing the way work gets done. These cutting-edge tools have the promise and potential to be a boon to audit firms looking to improve the quality and efficiency of their work, differentiate themselves in an ultra-competitive environment, and perhaps even insulate themselves from risk and liability. Among the technologies being adopted by audit firms are artificial intelligence, machine learning, robotic process automation, blockchain, cloud-based storage and services, advanced data analytics, and data visualization.

In broad strokes, these new technologies can automate and streamline the time-consuming rote tasks and data gathering needed to inform and empower more intellectual, human tasks as...

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