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The next question: What do these changes in the roles and responsibilities look like for the auditors of the future? Cognitive technology will assuredly present new issues for which humans will have to find solutions.
• How will humans be able to test the accuracy and completeness of the decisions derived by cognitive systems?
• If cognitive computing systems rely on supervised learning, what is the most effective way to train systems?
• How will cognitive computing fair in an industry that experiences ever-changing industry regulations?
• Will cognitive technology enhance the quality of audits?
In order to answer these questions and many more, I plan on examining how cognitive technologies evolved into their use today. Based on this historic trajectory, stakeholder interviews, and industry research, I will forecast what auditing jobs may look like in the near future taking into account rapid advances in cognitive computing.
The conclusions forecast a future in auditing that is much more accurate, timely, and pleasant. Cognitive technologies allow auditors to test entire populations of transactions, to tackle audit issues on a more continuous basis, to alleviate the overload of work that occurs after fiscal year-end, and to focus on client interaction.
This thesis discusses accounting fraud in the workplace today, using the recent Wirecard scandal as a jumping off point. The thesis goes into the common causes of accounting fraud (organized by the three components of the fraud triangle), effective methods for countering fraud, and lessons that can be learned from the 2020 Wirecard scandal
Through findings from interviews, a survey, and personally learning automation software we think automation will continue to grow in the accounting industry in the coming years. Accountants see software as something that makes them more efficient and firms are doing a good job training their employees on how to use these new software tools. Our interviewed accountants say that automation saves them time that can be used to work on other things. By learning Alteryx, an automation tool, we saw these time savings firsthand.
Through findings from interviews, a survey, and personally learning automation software we think automation will continue to grow in the accounting industry in the coming years. Accountants see software as something that makes them more efficient and firms are doing a good job training their employees on how to use these new software tools. Our interviewed accountants say that automation saves them time that can be used to work on other things. By learning Alteryx, an automation tool, we saw these time savings firsthand.