Digital Technologies Increase the Complexity of Auditing (2018)

Technological change makes it significantly easier than before to use digital technologies such as artificial intelligence or blockchains in auditing. However, this increases the complexity of an audit. "In the past, the task of the auditor was only to file the items they audit. Today, the audit subject blurs within the vast data landscape of Big Data," says Rüdiger Loitz.

PwC has long adapted to these changes: together with IBIS Prof. Thome AG, PwC developed the "Halo for SAP" solution. The system significantly expands the auditor's view into the information systems of the company under audit. This provides auditors with the opportunity to analyze business transactions more quickly and securely than ever before. However, due to the integration of business processes with technology components, it is becoming increasingly difficult to determine which IT systems are relevant for financial reporting and which are not.

The full article here: https://www.pwc.de/de/im-fokus/abschlusspruefung/wie-die-digitalisierung-die-wirtschaftspruefung-revolutioniert.html