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Scoping Out the Audit of the Future

Accounting Today, May 2017 Jimmy Thompson

Audit partner, Jimmy Thompson, participated in a virtual roundtable hosted by Accounting Today to discuss technology and the audit of the future. Thompson, along with other prominent members of the accounting community nationwide, served as a panelist and provided his thoughts about how technology will play a part in reshaping the audit. The perspectives are varied and insightful.To read the article, click here.

Thompson explains, "technology will continue to impact the way audits are performed. A remote audit approach and the use of technology like drones, satellite imagery and video calls to perform existence testing will become more commonplace. Cloud computing will continue to eliminate the need for substantial fieldwork being performed at the client’s offices, allowing for reduced travel and greater efficiencies."

The panelists in the virtual roundtable are: Mark Baer, managing partner of the audit services group at Top 10 Firm Crowe Horwath; Frank Casal, vice chair of audit at Big Four firm KPMG; Cindy Fornelli, executive director of the Center for Audit Quality; Joel Shamon, the national audit leader at Top Five firm RSM US; and Jimmy Thompson, an audit partner at Texas-based MaloneBailey.

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