GLOBAL DIGITAL AUDIT TRANSFORMATION & FRAUD ANALYTICS 2022

After dealing with a global crisis, it is clear that the landscape of the audit profession has been completely disrupted. Technology is quickly evolving, and the real-time economy is transforming how data is received and processed bringing to a clear shift in how audits are performed today. The digital transformation “forced” by the pandemic has also brought unprecedented levels of fraud. This new digital-first environment has given fraudsters new ways to commit crimes. Auditors and heads of fraud across companies will need to be highly alert to safeguard their organizations from falling prey to these new tactics. ESG disclosures and transparency in audit reporting has also taken centre stage. As more businesses and corporations make the transition to the virtual world, the new auditor today will have to quickly equip themselves with the right tools needed to excel in a Web 3.0 ecosystem. It has never been more crucial for auditors to innovate with changes in their organization’s workplace, technology & regulatory requirements as this will be critical to understanding emerging risks as well as governance issues.