Abstract
The field of auditing is changing dramatically. There is a significant skills gap and traditional accounting majors are underprepared to keep up with the dynamic changes in the auditing field. This paper highlights the fixed mindset mentality that overpowers a traditional accounting major when they begin their entry-level careers in auditing and how this mindset needs to be disrupted through faculty innovation, intervention and proactive investment in training and education by firms. We discuss the pressures faced by a traditional accounting major which leads them to have a fixed mindset when they enter the field of public accounting and industry. The paper presents the potential for blockchain, expert systems, and machine learning in transforming the processes of the auditing industry and its importance in new auditors’ understanding of these new technologies.
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