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  • A Presentation On: "Audit and Assurance

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    Saiful Alam Miraz
    24 views10 pages
    The document discusses the audit and assurance profession and the challenges it faces. It identifies three factors that have degraded trust in auditing: 1) growth in non-audit consulting, 2) market pressure on audit costs, and 3) increased reliance on expensive audit tools. It also outlines the regulatory board's challenges in addressing this issue and restoring confidence through registration, inspections, independence rules, and standards. Emerging technologies are disrupting traditional accounting procedures and the skills required of auditors, with possibilities for remote monitoring, timely work reviews, and fraud detection through technologies like AI, RPA, blockchain and analytics.

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    audit course ppt

    Original Title

    ACT380

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    The document discusses the audit and assurance profession and the challenges it faces. It identifies three factors that have degraded trust in auditing: 1) growth in non-audit consulting, 2) market pressure on audit costs, and 3) increased reliance on expensive audit tools. It also outlines the regulatory board's challenges in addressing this issue and restoring confidence through registration, inspections, independence rules, and standards. Emerging technologies are disrupting traditional accounting procedures and the skills required of auditors, with possibilities for remote monitoring, timely work reviews, and fraud detection through technologies like AI, RPA, blockchain and analytics.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    24 views10 pages

    A Presentation On: "Audit and Assurance

    Uploaded by

    Saiful Alam Miraz
    The document discusses the audit and assurance profession and the challenges it faces. It identifies three factors that have degraded trust in auditing: 1) growth in non-audit consulting, 2) market pressure on audit costs, and 3) increased reliance on expensive audit tools. It also outlines the regulatory board's challenges in addressing this issue and restoring confidence through registration, inspections, independence rules, and standards. Emerging technologies are disrupting traditional accounting procedures and the skills required of auditors, with possibilities for remote monitoring, timely work reviews, and fraud detection through technologies like AI, RPA, blockchain and analytics.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 10

    A Presentation

    on
    “Audit and
    Assurance
    “Group-03”
    NAME ID

    Md. Symum Hasan Lian


    1521213630

    Tahsina Akhter
    1520709633

    Md. Abu Khaled bhuiyan


    1510077030
    Sumon Sikdar
    1430414030
    Abdullah Al Mabsur Rafid
    1631046630

    Md. Mahmudul Hasan 1530125630


    First of all, talk about why this
    kind of circumstances occurs
     Let me list three variables that seem to have
    led to the degradation of auditing trust:
    1. The growth in non-auditing consultancy
    resources
    2. Market pressure on auditing expenses
    3. Increased dependence on more expense auditing
    tools
    The Board's Challenges to redress this
    perception and restore users and
    prepare confidence in the audit function:

    1. Registration of Public Accounting Firms


    2. Inspections
    3. Independence and Non-Audit Services
    4. Auditing Standards
    5. Professional Discipline
    Changes in the accountancy profession

     Enhance the skills of auditors

     Monitoring real time data

     Enabling the timely execution and review of work

     Easily detected suspicious activities


    Technology and the Future of this
    Profession
     Enhanced Efficiency Future
     Improved Testing The Financial Reporting Council (FRC)
    reviewed the role of the auditors. Several
     Staffing Changes
    Members of the House of Commons
     Beyond Financial Reporting: Committee on Business, Electricity, and
    Industrial Policy called on the Big Four firms
    that control the audit industry to be split up to
    boost competitiveness in the sector and raise
    Environmental, social, and consumer interest in its consistency reports
    governance problems,
    Non-GAAP financial initiatives, and
    Cyber protection.
    Disruptive technology in accounting

     The rapid fastness of technological change continues to


    disrupt traditional procedures in the accounting profession.

     disruptive technologies such as robotic process automation


    (RPA), artificial intelligence (AI), block chain, smart
    contracts, and advanced analytics process.

     disruption the static focus of the CPA exam creates a


    difference between the supply and demand of the essential
    talents
    Emerging technologies and the future of the
    accounting profession:

     Accounting information system (IS)


     Artificial Intelligence
     Robotic Process Automation
    Technology and the future of this
    profession:

     Enhanced efficiency

     Improved testing

     Staffing changes

     Beyond financial reporting:

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