Digitization and Audit Professione
Vani Ramesh
Vani Ramesh, Research Scholar, Bharathiar University, Coimbatore (TamilNadu), India.
Manuscript received on 03 April 2019 | Revised Manuscript received on 10 April 2019 | Manuscript Published on 13 April 2019 | PP: 33-39 | Volume-8 Issue-6C April 2019 | Retrieval Number: F12160486C19/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Digitization’ has restructured the auditing profession with upgraded technical skills and knowledge of auditors in India. Soft wares such as, CAATT, eaudit, DMS, Aura, on spring, Audit Board, iAuditor and larger safety culture suite assists the auditors to stay ahead with the audit process efficiently and effectively. Digitization helped the auditors to spend less time on paper work and more time lending their knowledge to other high-risk areas of the business. The present study aims at understanding the impact of Digitization on the audit profession in India by using a well-structured questionnaire of 400 respondents from auditor`s profession across India. Factor Analysis (FA) and confirmatory factor analysis (CFA) approach is exploited to generate the results. SEM has been deployed to evaluate the original and modification indices of the model, which further establishes the improvement of path analysis in SEM`s effectiveness with the help of Reliability and Validity tests. The model establishes the significant impact of Digitization on the audit profession in India. Based on results in Structural Equation Modelling, contributions of digitization on the audit profession in India is analysed. Various parameters established based on Force Field Theory (Kurt Lewin`s, 1948) [1] of driving forces and restraining forces such as, auditor`s perception, demographic, socio economic, political, environmental, technological, infrastructural and political. The outcome of the study will help the auditors and corporates practitioners to frame the guidelines to meet global challenges.
Keywords: Auditing, Automation, Technology, Digitization, Software.
Scope of the Article: Software Test Automation and Tools