Audit platforms are becoming more automated. Auditors are increasingly using automated tools and techniques to perform risk identification and assessment and further audit procedures. Technology is changing the audit and has the potential to improve audit quality when designed and implemented appropriately.
CPAB provides perspectives on how the use of technology is enhancing the quality of audits in our August 2021 publication: Technology in the Audit. We also describe the challenges that are emerging, as well as our expectations of audit firms, as the use of technology comes to represent a more significant component of the audit effort.