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Drones, blockchain, bots, artificial intelligence-the new auditors on the block

Drones, blockchain, bots, artificial intelligence-the new auditors on the block
Drones, blockchain, bots, artificial intelligence-the new auditors on the block
Experts say that apart from the jazzy tech like drones, some of the auditors are also using artificial intelligence and bots for auditing.

Synopsis

Auditors fear that at a time when they are working from home and unable to hit the ground, technology could be the only solution that could give them comfort as the fear of fraud increases due to movement restrictions and inability to do physical checks.

Mumbai: Though change came late to the musty world of auditing, it has finally arrived. Thanks to Covid-19, some of the top firms are using drones, robotics, artificial intelligence and blockchain technology to complete their auditing assignments during the pandemic.The eye in the sky that is the drone will now be used for cross-check whether inventory in a power company’s financials tallies with the actual position of the stock of coal on
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The Economic Times