Future trends in the audit profession

THE Greek philosopher Heraclitus is credited with the saying "Change is the only constant in life." The world is always changing and so are people. The audit practice is not exempted. Not only is change always happening, it is also unavoidable.

The future of the audit profession will involve the increased use of technology. Additionally, the profession faces the prospect of increased regulatory scrutiny and pressure to improve audit quality and integrity. The demand for audit services may also change as the business environment evolves, with greater focus on areas such as sustainability and governance. Overall, the audit profession will have to evolve and adapt.