Is technology that targets fraud the future of audit?
The high-profile potential fraud we’re seeing unravel with Wirecard, not to mention older confirmed fraud cases such as Parmalat and Luckin Coffee, shouldn’t happen. However, in this current economic downturn, they may not be the last.
Such frauds have huge monetary implications for investors and the financial industry, not to mention the reputational damage to the audit industry where the auditors are in question.
The global effect we’re witnessing ripple through the audit sector is calling for urgent reform, with former London Stock Exchange chair Sir Donald Brydon saying “making it clear that auditors have an obligation to find fraud rather than stumble over it would be a smart move to change auditor behaviour.
What does this mean for the future of audit?
In our latest webinar ‘Is technology that targets fraud the future of audit?’, Inflo Founder and CEO Mark Edmondson, Confirmation Founder Brian Fox and Confirmation Managing Director of Europe, Kyle Gibbons will discuss:
• What went wrong with the potential fraud cases such as WireCard and Luckin Coffee?
• How the frauds are triggering a ripple effect globally that might change the future of the audit industry.
• How enhanced use of audit technology will be key to discouraging and detecting fraud, including fraudulent reporting
• How combining technology with firms’ expertise and judgement is key for the future-focused auditor
Brian Fox – Confirmation Vice President of Strategic Partnerships at Thomson Reuters, Founder of Confirmation, part of Confirmation.
Brian is an industry thought-leader and frequent speaker on accounting and fraud issues. He has been named four times as one of the “Top 100 Most Influential People in Accounting,” is a five-time winner of the accounting profession’s “Top 40 Under 40 CPA in America,” and was named as an Entrepreneur of the Year in Nashville.
Mark Edmondson – Inflo, Founder and CEO
Mark is a specialist in the use of technology within compliance and advisory services. Mark created Inflo to help firms of all sizes improve team productivity and the quality of work as well as create a stronger value proposition to increase fee income from existing and new clients.