To survive the future, businesses must be alert to audit technologies

Developments in artificial intelligence, data analytics and blockchain technologies are having a significant impact on businesses and workplace. PHOTO | FILE | AFP

What you need to know:

  • There will be opportunities for auditors to develop more forward-looking assurance services, helping clients to manage risk and growth.

  • Audit firms need to invest in digital initiatives, including AI, blockchain, cyber security and developments in data capabilities so as to deal with the new technology-driven risks that their clients face and safeguard their digital assets.

Developments in artificial intelligence (AI), data analytics and blockchain technologies are having a significant impact on businesses. The pace of technological change is particularly affecting the finance function, creating a need to revisit the audit approach.

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