Audit and technology

During the Fourth Industrial Revolution, the lines between the physical, digital and biological spheres were blurred by the fusion of technologies. (Schwab, 2018) These developments change auditing and the broader field of accountancy. This research analyses the driving factors contributing to the demand for the technologies used in auditing. Following this, the research introduces Data Analytics, Machine Learning, Distributed Ledger Technology, which changes the audit process with these new technologies. Moreover, it raises questions and challenges for auditors to adapt to new technologies and their effects on the industry in the future.