Question

Do you think the job market for auditors will shrink substantially in the future? Explain

Answer 1

Surge of mechanical robots, drones and bots are augmenting, assisting, and, in certain cases, replacing human workers in almost every industry. Robots are used to accounting work alongside human workers for several inventory and warehouse projects. These are better at lifting heavy objects, and working around the clock. It can help in translating of the collected information in accounting and auditing. Software Bots are helpful to deliver value for clerical and spreadsheet processes that are rules based and repetitive; numerous transactional processes, data manipulation, and data analysis tasks can also be easily automated, thus permit auditors to focus only on those transactions that need nuanced human analysis and not to focus their time about routine high-volume transactions.

Considering the above facts there will be job market for auditors will shrink however to a little extent. The ability to understand individuals and to establish a good rapport is important for effective audits. The human elements include management leadership, focus on results and customers, a sense of urgency, team processes and cultural change. These requirements cannot be fulfilled by the robots; as the more intangible elements of human and social interaction influence the outcomes and quality of an audit