Abstract
Background: The auditing profession has been burdened with high costs and reputational damage resulting from false results because of a high dependency on manual tasks susceptible to errors or manipulation. Automating repetitive tasks with the use of robots can help minimise these errors to achieve efficiencies and cost reduction.Objectives: This study adopted a Unified Theory of Acceptance and Use of Technology (UTAUT) model to determine the factors influencing organisations to use robotics technology when performing auditing activities.Methods: The study was quantitative, using a survey consisting of 37 questionnaires and two semi-structured interview questions. The sample consisted of 59 professional auditors and 26 non-auditors involved in auditing in South Africa.Results: The study results show that performance expectancy and facilitating conditions are key factors that influence the adoption of robotics in the auditing profession. A lack of training, data quality, and inadequate investment in robotics technology are mentioned as critical barriers to adopting robotics in auditing. Management support, good change management processes and technology skills are quoted as potential key enablers of robotics technology in the auditing profession.Conclusion: The conclusion drawn from the study is twofold. Firstly, the performance management system and the business case for robotics in the auditing process should be linked to the tasks of auditors. Secondly, resources should be made available to support the use of technology in the profession. The study provides more insight into how leaders and management in the auditing profession could influence the adoption of robotics in auditing.
Highlights
Competitive advantage is driven by organisations’ abilities to access, collect, synthesise, analyse, and exploit insights from data (Rose, Rojhani & Rodriques 2018)
An investigation was done into the nature of the relationship between the UTAUT model and the behavioural intention of auditors to use robotics in auditing
The results of this study highlight the importance of understanding the barriers and the potential enablers of adopting the use of technology in the auditing profession
Summary
Competitive advantage is driven by organisations’ abilities to access, collect, synthesise, analyse, and exploit insights from data (Rose, Rojhani & Rodriques 2018). Big data and data science have experienced unprecedented growth in recent years (Tang, Norman & Vendrzyk 2017). This ongoing technological advancement presents challenges and opportunities for auditing professionals and the profession (Tiberius & Hirth 2019). The challenge is how the profession can help businesses understand, codify, and develop appropriate controls around the new risk presented by the advancement of these technologies (Rose et al 2018). As an increasing amount of data becomes available, organisations seek avenues to exploit data for insights, efficiencies, and competitive advantage (Sharma, Mithas & Kankanhalli 2014). Automating repetitive tasks with the use of robots can help minimise these errors to achieve efficiencies and cost reduction
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