The impact of digitalization on the quality of external audit

Abstract

In an uncertain the pace of technological progress has influenced existing audit digitization programs. The adoption and use of emerging technologies in audit digitization programs presents numerous opportunities for innovation and improvement. These opportunities are accompanied by numerous threats to current working methods, which have an impact on the audit profession, the audit process and the auditor. This study uses a qualitative, interview-guide approach with auditors from major national auditing firms to identify the impact of digitalization on the auditing profession. The findings of our investigations reveal that technological advances in the digital field have the potential to substantially improve the quality of auditing services. At the same time, they open up important perspectives, such as the in-depth evaluation of the audit offer, the development of new services within audit firms and the fundamental redefinition of the professional profile of auditors in the years to come. The study's projections clearly point to the increasing automation of auditing procedures, which is likely to free up more time for higher value-added tasks.