Technology – evolving the audit | KPMG Australia
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Technology – evolving the audit

Technology – evolving the audit

Explore how emerging technologies are continually evolving the audit.

Explore how emerging technologies are continually evolving the audit.

In today’s digital world, where data is proliferating across digital networks and systems, we are bringing new capabilities to mine the mountain of data to identify audit risk, highlight anomalies and outliers, and perform further analysis. Emerging technologies such as blockchain, cloud, and machine learning have the potential to transform the way an audit is conducted while enhancing audit quality. Technology will help drive an increasingly interconnected financial ecosystem where data is available ever faster and updates become more real time.

Blockchain has significant potential to boost the confidence and trust that a user has in data. The cloud could make auditing more centralised, whist quantum computing could one day be applied to auditing vast datasets. The power of robotic process automation will mean that an audit, based on increasingly granular and sophisticated analysis of data, may provide richer, more detailed audit evidence, enhanced transparency and depth of audit procedures, and deeper views into a company’s risks and its controls.

Nine topics will be explored in our series – being released over the coming weeks – future of technology, robotic process automation, blockchain, audit in the cloud, digital labour, machine learning, quantum computing, deep learning, natural language procession.

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