Literature Review
Technology is now paying increasing attention around the world, and devices exploiting this
waveband are set to become increasingly significant in a very diverse range of applications.
Researchers have since used it in a variety of contexts in over two dozen countries. Meanwhile,
several revolutionary technologies (mobile commerce, social media, and cloud computing) that
were in their infancy just a decade ago are now pervasive and significantly impacting people’s
lives. Based on insights from extensive experience and given the significant changes in the
technology landscape, the authors undertook a two-phase research project to update and
streamline (Hall, Singleton & Hall, 2022). A Pearly every technological advancement goes
through a period of skepticism, and it’s easy to forget that some of today’s cutting-edge, “outthere” developments could be tomorrow’s business and lifestyle staples.
Internal auditors improve traditional audit processes by using their existing knowledge and skills
to seek better practices. Such improvements often come from necessity and imagination as well
as from performance benchmarking efforts inside and outside the organization (Coderre, 2020).
Achieving quality means functioning at the leading, if not cutting, edge of practice. Maintaining
that edge is essential for the promotion of all internal audit services in the organization, requiring
a commitment to continuously improve through use of innovative practices. On the other hand,
three key technologies for internal audit in terms of cutting edge technologies; these are Data
Analytics, Artificial Intelligence, and Blockchain.
There is a presention that a simple geometric model that permits controlled manipulation of a
few of the key parameters defining the exact positioning and productivity in an organizations
(Pathak, 2021). The models indicate that the cores are relatively efficient at minimizing raw
material waste while at the same time maximizing productivity in terms of total number of tool
blanks and amount of cutting edge produced. Some arguments had also been arisen against the
exact model of this cutting edge technologies what actually highlights of any organizations’
positioning and productivity as well.
Michael J. Fischer (1996) in his field study on “Big 6” CPA farms found out that, implementing cutting edge
technologies in auditing requires fundamentally different approach towards audit evidence generation
and evaluation. Conducting studies on these farms, he found out that, cutting edge technologies did not
”automate” or “enhanced” the existing approaches of gathering evidence, rather, the benefits resulted
from removal or change of audit processes. The technologies provide leverage in shortening the audit
processes.
Zabihollah Rezaee and Alan Reinstein (1998) emphasized on electronic data interchange in their study.
While it took several steps and suffice evidence to come at a conclusion in an audit, cutting edge
technologies made it easy to get the evidence and where to look after. The study concluded that, cutting
edge technologies had made inputting information for transactions and related controls, thus, auditors
must accumulate data from computerized clients.
Mary B.Curtisa and Elizabeth A.Payne (2008) focused on the indivudal factors that can influence the
outcome of implementing cutting edge technologies in auditing. The study found out that, computer
assisted audit techniques can increase efficiency, but auditors are less likely to do so without the
interventions of the farm. The study applied budget theories as well as potential organizational strategies
to validate their results.
Victor Tiberiusa and Stefanie Hirth (2019) discovered the challenges and opportunities of the
implementation of the cutting-edge technologies on audit. Block chain, artificial intelligence, analysis of
big data are thought to impede the progress and the process of gathering evidence for the audit firms.
But the study finds no such evidence in near future, rather these technologies are predicted to provide
relief and support.
Charles Hoffman (2017) described how businesses are operated in the era of fourth industrial revolution.
The study addresses cutting edge technologies as a tool to augment the auditors just like calculators and
mathematician. The study predicts that, cutting edge technologies will give birth to newer processes and
methods such as digital financing reports, block-chain based distribution ledgers.
A.M. Rozario et. al. (2018) provided an overview on how cutting-edge technologies and robotics may
change how professions and businesses operate in near future. Audit has always been a mixed approach
combining manual steps and computational works. Technologies like Robotic Process Automation (RPA)
uses software to prepare some audit documents. This might allow the auditors to operate in a much larger
scale.
Gabe Dicky (2019) discovered the threat imposed by cutting edge technology like machine learning in
audit. Machine learning is the way that teaches machines to learn the way human learns. This can learn
directly from auditors and can perform their tests in more directed and intentional manner. Technology
companies are implementing machine learning already in some extents.
Nicolaou Christina A (2012) conducted a study on Cloud Auditing. Cloud auditing allow companies to
enable processes that are supported by IT applications. The study concluded that, audit of cutting edge
technology using companies in a not technological manner can impose a threat in this era of cloud based
systems.
Masayoshi Tonouchi (2007) stated that research into terahertz technology is now paying increasing
attention around the world, and devices exploiting this waveband are set to become increasingly significant
in a very diverse range of applications. Researchers have since used it in a variety of contexts in over two
dozen countries. Meanwhile, several revolutionary technologies (mobile commerce, social media, and
cloud computing) that were in their infancy just a decade ago are now pervasive and significantly impacting
people’s lives. Based on insights from extensive experience and given the significant changes in the
technology landscape, the authors undertook a two-phase research project to update and streamline. A
Parasuraman (2014) argued that nearly every technological advancement goes through a period of
skepticism, and it’s easy to forget that some of today’s cutting-edge, “out-there” developments could be
tomorrow’s business and lifestyle staples.
Jeffrey Ridley (2008) said that typically, internal auditors improve traditional audit processes by using their
existing knowledge and skills to seek better practices. Such improvements often come from necessity and
imagination as well as from performance benchmarking efforts inside and outside the organization.
Achieving quality means functioning at the leading, if not cutting, edge of practice. Maintaining that edge
is essential for the promotion of all internal audit services in the organization, requiring a commitment to
continuously improve through use of innovative practices. On the other hand, Russel Bunker (2019) stated
that three key technologies for internal audit in terms of cutting edge technologies; these are Data Analytics,
Artificial Intelligence, and Blockchain.
P. Jeffrey Brantingham (2001) told that we present a simple geometric model that permits controlled
manipulation of a few of the key parameters defining the exact positioning and productivity in an
organizations. The models indicate that the cores are relatively efficient at minimizing raw material waste
while at the same time maximizing productivity in terms of total number of tool blanks and amount of
cutting edge produced. Some arguments had also been arisen against the exact model of this cutting edge
technologies what actually highlights of any organizations’ positioning and productivity as well.
References
1. Coderre, D. (2020). Internal audit (4th ed.). Hoboken, N.J.: Wiley.
2. Hall, J., Singleton, T., & Hall, J. (2022). Information technology auditing and assurance (5th
ed.). Mason, Ohio: Thomson/South-Western.
3. Pathak, J. (2021). Information technology auditing (5th ed.). Berlin: Springer.
4. Fischer, M. J. (1996). “Real-izing” the benefits of new technologies as a source of audit
evidence: An interpretive field study. Accounting, Organizations and Society, 21(2-3), 219242.
5. Rezaee, Z., & Reinstein, A. (1998). The impact of emerging information technology on auditing.
Managerial Auditing Journal.
6. Curtis, M. B., & Payne, E. A. (2008). An examination of contextual factors and individual
characteristics affecting technology implementation decisions in auditing. International
Journal of Accounting Information Systems, 9(2), 104-121.
7. Tiberius, V., & Hirth, S. (2019). Impacts of digitization on auditing: A Delphi study for Germany. Journal
of International Accounting, Auditing and Taxation, 37, 100288.
8. Hoffman, C. (2017). Accounting and auditing in the digital age. URL: http://xbrlsite.
azurewebsites. net/2017/Library/AccountingAndAuditingInTheDigitalAge. pdf (accessed 02
November 2020).
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and auditing. The CPA Journal, 88(6), 46-49.
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