Technological disruption has required a review and significant expansion of the knowledge base by aspiring accountants and professionals of auditing . In addition to their deep accounting knowledge, they also need to be great critical thinkers to exercise professional judgment. In addition to benefiting from a good understanding of computer languages, as well as courses to develop analytical and written communication skills, such as advanced writing or even logic and philosophy, and classes that emphasize verbal presentation skills.
A auditing today it increasingly revolves around valuation estimates. Professionals need to be able to understand assessment modeling and the data underlying the calculations. Hence the importance of data analysis and finance. The conclusion is that, to be a professional of auditing Successful in the 21st century, learning is needed in addition to the traditional undergraduate course.
The digitization of auditing , for example, is an ongoing effort. The first major component of what we can call auditing digital is the automation of data collection and preparation. This may include automating the documentation process of auditing , establishing a single process for all information exchanges between auditor and auditee. It may also include the automation of data preparation activities of auditing , that is, validation, extraction, and processing. In this case, the auditor can be assisted by software that can be programmed to perform basic repetitive tasks in applications and data sources that mimic human action, which is also known as robotic process automation or RPA.
The second main component of auditing digital is data analysis. Once the first data sets are registered and auditors are confident that they meet certain criteria, they can begin to analyze them. The data can be structured, for example, in Excel tables, database extracts, files of Log or forms. They can also be unstructured, for example, as text, images, sounds, or videos.
There are different tools and methods that can be used to help professionals of auditing to manage large amounts of data in order to allow them to identify risks and obtain insights to help them exercise their professional judgment, basing their opinion on facts.
There are many different data-based techniques that are already available to the professional of auditing . A specific subset is machine learning, a technique that is based on the development of algorithms and statistical models that the computer can use to perform a specific task without further instructions. In addition, the learning aspect refers to the fact that these techniques improve over time, as they are exposed to more data.
The professionals of auditing they have access to large amounts of data. They can use them to gather evidence more effectively to support their opinion. Some digital techniques are very powerful tools that the auditor can employ to achieve their auditing objectives. While these techniques have so far not been widely used as part of a auditing from financial statements, in other areas they proved their added value. The barriers and obstacles that prevent the use of auditors can be overcome, if necessary.
The truth is that the world is increasingly digital. Today the reality is the data. The rules are implemented as electronic procedures and algorithms. As a consequence, auditing must become increasingly digital to deal with the new market reality.
Contact TATICCA — ALLINIAL GLOBAL, which provides integrated auditing services, internal auditing, accounting, taxes, corporate finance, financial advisory, risk advisory, technology, business consulting and training, for more information, at www.taticca.com.br or e-mail taticca@taticca.com.br and learn more. Our company has certified methodologies for carrying out activities.
