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- All Subjects: environment
- Creators: School of Accountancy
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.
Mitigation banks are a tool created to mitigate and compensate for negative impacts on the environment resulting from man made activities, especially damage caused to endangered wildlife, plants, and wetland ecosystems. The main objective of creating the system of mitigation banks is to achieve environmental equilibrium, meaning “No Net Loss” to all environmental functions. This means damage to one area is compensated for in another area of like-kind through restoration. There is great controversy surrounding this claim. There is a system of debits and credits to ensure ecological loss from development is preceded by restoration of a similar ecology and function. Wetland mitigation banks are the focus for the purpose of research. Background and benefits will be given first, followed by threats, issues, solutions and a personal experience with mitigation banks.
Information was examined using thirteen indicators of sustainability. Eight indicators were chosen that represented environmental sustainability, plus five indicators that represent social and economic sustainability. Based on the information analyzed, each company received a score for each indicator according to the level of information disclosed. This created a sustainability scorecard, with Marriott and Hilton scoring the highest, Wyndham and Best Western scoring the lowest, and Choice Hotels falling in the middle .In summary, it was determined that Hilton is reporting at the highest level, based on the measured indicators in addition to receiving external assurance on their disclosed results from implemented practices, The other four companies have further steps they should take to better communicate their sustainable practices and overall commitment to sustainability.