From the course: The Future of Audit
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Reliance on licensed auditors
- Even though auditors will have more technological leverage in the future to perform audits it's likely that audits will still need licensed experts to sign off on the audit opinion. Today, many audits are supported by people who are not CPAs, certified public accountants or chartered accountants, they're often supported by people who are doing testing and sampling and don't need to be licensed. In the future, there may be fewer people in the process and more technology, but there's still likely to be a requirement for the expert to sign off on the official independent audit opinion. Because independent audits are important and because unqualified audit opinions can be so valuable these are still likely to require licensed professionals who are trained in not just the accounting and audit basics but are also prepared for the data and technology challenges and leverage of the future.
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