iCPARQuarterlyBulletin-March2019

THE iCPAR JOURNAL 27
value work. Investing in Artificial Intelligence means
investing in people.’
This was echoed by Ivana Maletić, MEP, who
stressed: ‘To achieve better performance,
time planning, productivity and
efficiency, we need to combine new
knowledge, specialized skills and
talent with digital technologies
and AI - all must be part of the
equation.
‘Human capital is essential
in this process. We should
do a lot in reforming our
educational systems so
that people are no longer
afraid of digital and AI.
The EU is very slow to
make developments in
these areas. We have the
New Skills Agenda, but
this framework should be
improved and deepened.
We need to identify the
main challenges, elaborate
on possible scenarios,
prepare efficient strategies
and policy frameworks, and
discuss future possibilities’.
The debate confirmed that Data
analytics and AI can have significant
benefits for audit quality and create
opportunities, but also risks in relation to
the audit process. Digital and AI tools will
be critical to meeting the need to constantly
review the expectations around audit and
assurance.
Andrew Gambier, Head of Audit and Assurance
at ACCA concluded that ‘a good understanding
of risk is essential to the audit process. New
technologies bring new types of risks for
auditors. These risks may be unfamiliar and
therefore difficult to assess. Auditors need to be
nimble in considering where there could be risks of
material misstatements.’
Source:
First published by ACCA on 1st January 2019
A PUBLICATION OF THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF RWANDA
JANUARY - MARCH 2019