To remain relevant, we must change the meaning.
By Alan Anderson
Transforming Audit for the Future
As I see it, audit is at a crossroads. On one path, audit will keep going the way it has for the last decade or so. It will become so irrelevant and commodified it will vanish. Fees will drop so low that no one will be able to afford to be in the audit business. Plus, technologies like artificial intelligence and blockchain will be able to do what we’re doing now, only better, faster and cheaper. That might not happen for another 15 years, but that is coming.
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But there’s another solution — we can drive change positively for our profession. This change won’t happen overnight. I want to encourage us to really think about driving that change because we can influence it quite dramatically.
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