The current state and future of the audit profession

Danielle R. Lombardi, Rebecca Bloch, Miklos A. Vasarhelyi

Research output: Contribution to journalArticlepeer-review

6 Scopus citations

Abstract

Audited financial statements are intended to be timely and useful in decision making. To remain a valuable and relevant service, auditing must find a way to evolve. This paper summarizes a recent study (“The Future of Audit,” Lombardi, Bloch, and Vasarhelyi [2014]), which conducts an interactive forecasting method to gain expert consensus on the current state of the auditing profession and on how the profession will evolve over the next decade. Expert consensus emerging from the study includes increasing automation of audit procedures, more predictive financial statements, continuous auditing, and maintaining a global outlook on audit transactions.

Original languageEnglish (US)
Pages (from-to)P10-P16
JournalCurrent Issues in Auditing
Volume9
Issue number1
DOIs
StatePublished - Jun 1 2015

ASJC Scopus subject areas

  • Accounting

Keywords

  • Audit
  • Brainstorming
  • Expert panel
  • Forecasting
  • Information systems

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