As the financial landscape becomes more tech-driven, the role of the statutory auditor is also undergoing a significant shift. They are now expected to understand digital systems, assess cybersecurity risks, verify algorithm-based transactions, and ensure compliance in a data-saturated environment.
A 2024 study found that only 28% of statutory auditors globally feel fully prepared to audit in a digital finance environment.
What are the key changes in auditors reposiblity , the auditors are now expected to understand technology pattern, algorithm driven decision, cybersecurity & data risk assessment.
Auditors now review logs, dashboards, and automated workflows instead of physical files. They must ensure E-documents are authentic and traceable,workflows match the company’s internal controls, No manipulation is hidden in system-based entries.
The world of finance is changing and so is the world of audit today’s auditor is no longer just a number checker.They are a tech-savvy professional who helps build trust in the digital world.
If your company is going digital, your audit must too.
