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Actions needed to adopt technology and enhance the value of the audit

The assurance profession needs to evolve in order to address challenges, seize opportunities and lead change in this era of ongoing disruption. Find recommended actions from experts to help advance the value and relevance of audit.

In November 2017, Chartered Professional Accountants of Canada (CPA Canada) and the Institute of Chartered Accountants of Scotland held their first joint symposium in Toronto. They discussed and debated the future of the audit profession in the digital age and how technology might be used to enhance the audit. Exactly one year later, on November 2, 2018, the dialogue resumed at a second symposium in Edinburgh to consider whether the same issues were still relevant.

The answer was yes...perhaps even more so.

Led by two expert panels, an audience of auditors, academics, preparers, standard-setters, and educators shared their views on two key issues affecting the assurance profession:

  • the impact of technology on what is audited and how
  • assurance over information beyond traditional financial statements

Download the report for recommendations on actions needed to prepare for the future, from a variety of stakeholders, including professional accounting bodies, educators, accounting firms, regulators, preparers, and those charged with governance.