The development of audit activities: challenges, opportunities, prospects in the context of the digitalisation of the economy

Abstract

Subject. Audit services as an effective tool for identifying challenges of financial and business operations of economic entities in the modern digital economy. Purpose. An original study of the practical significance of audit automation tools and the identification of the features of the software to be used during audits. Methodology. To achieve the goals, the scientific methods of analysis, synthesis, analogy, classification, and logical approach were used. Results. Key features of software products that allow reducing energy consumption during audits and ensure compliance with all statutory audit rules and standards were identified. The importance of using information technologies in order to improve the quality of provided audit services was proved. Conclusions. The conclusion was made that it is advisable to automate processes during all stages of audits by reviewing and critically assessing the essential characteristics of the most common software tools which can serve as a basis for information for audit organisations facing the choice of implementing information technologies in their core activities.