The modern audit, Part 1: Technology and the audit process

AUDIO | August 24, 2022

Authored by RSM US LLP

This podcast series is brought to you by RSM US LLP (RSM), a leading audit, tax and consulting firm. In this first episode of a three-part series, RSM National Audit Growth Leader, Joe Mazza, sits down with RSM’s Sara Lord, Chief Auditor, and Scott Wilson, RSM’s National Audit Innovation Leader, to discuss the growing role technology has in the auditing process. The team also talks about how that technology affects modern auditors and may impact the future of the industry.

Technology is transforming the audit process—in a big way.

In part one, Joe, Sara and Scott chat about the role technology currently has in the audit process. The team also discusses the types of digital tools being applied in audits now and how the audit process looks when these advanced tools are used.

The team focuses on how technology improves audit efficiency and quality:

  • Reduces manual tasks, which allows the audit team to focus on higher-value work
  • Decreases the risk of potential human bias
  • Allows the audit team to conduct traditionally complex tasks with the help of artificial intelligence (AI) to deliver more efficient audits with more actionable business insights
  • Uses modern portals to improve the way clients interact with the audit team
  • Focuses the audit procedures on areas of risk while maintaining rigorous compliance and quality standards

Be sure to listen to the rest of The modern audit series:

This article was written by RSM US LLP and originally appeared on 2022-08-24.
2022 RSM US LLP. All rights reserved.

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