Latest technological advancements in internal audit: A Literature Review
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School of Business |
Bachelor's thesis
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Authors
Date
2024
Department
Major/Subject
Mcode
Degree programme
Laskentatoimi
Language
en
Pages
19 + 6
Series
Abstract
Due to the constant growth of new technology the audit profession is living in a time of constant change. This thesis addresses the evolving landscape of the audit profession amidst rapid technological advancements. Conducting a comprehensive literature review utilizing articles from Google Scholar and Scopus, supported by other materials, the study focuses on the latest technological trends impacting internal auditing. Findings highlight the following. Technology of data analytics is found significant, particularly leveraging machine learning algorithms, in enhancing audit processes. Continuous auditing shows promise, but due to cost implications, it is found challenging to implement. Additionally, blockchain technology emerges as a potential asset for continuous auditing. Lastly, the anticipated impact of robotic process automation on internal auditing is not realized as expected. Through this examination, the thesis provides insight into the current state and future direction of technological integration in internal auditing practises.Description
Thesis advisor
Yamada, RyokoKeywords
internal audit, internal audit function, data analytics, continuous auditing, blockchain technology, RPA