Auditing Profession Challenges
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What are some of the challenges the auditing profession and auditors are facing today? What led to these challenges? What can I do, as an individual, to address these challenges and change them?
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Solution Summary
This solution of 364 words explains challenges of an auditing profession with examples. It also provides recommendations to deal with such challenges and the two references related to the answer are also included.
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The first challenge that auditing profession and auditors are facing today is globalization. The audit firms must face the challenges of weak regulations in several countries, and ineffective corporate governance practices. The second challenge that auditing profession faces is the increasing demand for information. This demand is made even though the budgets are low, internal policies are weak, and several compliance audits have to be carried out. This means capturing, organizing, and disseminating information in real time. The auditors have to provide an assurance about the validity of the information. Another important challenge that the ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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