November 2017

Compared to humans, new technologies like Artificial Intelligence (AI) are ideal for automating mundane tasks related to auditing. AI can also verify every transaction and codify human knowledge, enabling auditors to review, analyze and audit more effectively. As big firms adopt AI in their auditing processes, smaller firms are also realizing the value and becoming

With the audit season fast upon us, a person stops to think about ‘reasonable assurance’. Audit standards such as AU-C 240, CAS 240 and ISA 240 stipulate that “…an auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.” ‘Reasonable