Weekly Wrap – 28th February 2017

Hi I am Tom McLeod, Co-Founder of McLeod Governance.

This is what I would be thinking about this week.

Long time viewers of the Weekly Wrap would know that I have a particular bent towards emerging technologies and the use or adoption of automation.

It is on that theme day that I want to look at the audit report and more precisely why an audit report cannot be written by an algorithm.

It is an interesting question and one that we constantly ask of ourselves.

If we are using a standard approach to standard areas why cant a framework of rules deliver an instantaneous audit report?

It is done in other environments such as medicine and in parts of law.

The flip side to that is that an audit report – at least a good audit report – has an element of opinion contained within it and can an opinion ever be truly automated?

I think that the answer is in the middle.

I suspect that in the very near future much of our audit reports can be automated by the use of algorithms.

But there will always be that scope – always be that demand – for that key skill of observation.

And it is that observation that will never be able to be reduced to a set of rules.

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