IDEAS home Printed from https://ideas.repec.org/a/eee/jiaata/v37y2019ics1061951819300084.html

Impacts of digitization on auditing: A Delphi study for Germany

Author

Listed:
  • Tiberius, Victor
  • Hirth, Stefanie

Abstract

The ongoing digitization of the economy presents challenges and opportunities for the auditing profession and requires both auditors and their clients to adapt. Against the background of current technological developments in big data analytics, artificial intelligence (AI), and blockchain technology, this study examines changes in auditing practices expected by German auditing professionals within the next five to ten years. It addresses the perception of auditing, the auditor–client relationship, regulations, structural and procedural changes for auditing firms, and the profile of the auditing profession. These will probably change with new technologies. We surveyed experts as part of a Delphi study in Germany conducted over two rounds. The results show that no far-reaching changes are expected within the given time horizon. The annual audit will increasingly evolve toward a continuous audit approach. Despite predominantly uncertain opinions, experts believe that new technologies will not replace the auditor, but rather will provide relief and support. Even if the job’s necessary requirements make it more difficult to remain in the profession, disruptive effects in auditors’ workplaces are not expected in the near future. Nevertheless, the consequences of using new technologies in the auditing process offer numerous future research opportunities.

Suggested Citation

  • Tiberius, Victor & Hirth, Stefanie, 2019. "Impacts of digitization on auditing: A Delphi study for Germany," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 37(C).
    • Handle: RePEc:eee:jiaata:v:37:y:2019:i:c:s1061951819300084
    DOI: 10.1016/j.intaccaudtax.2019.100288
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1061951819300084
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.intaccaudtax.2019.100288?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Tom Breur, 2016. "Statistical Power Analysis and the contemporary “crisis” in social sciences," Journal of Marketing Analytics, Palgrave Macmillan, vol. 4(2), pages 61-65, July.
    2. Yuanfeng Cai & Dan Zhu, 2016. "Fraud detections for online businesses: a perspective from blockchain technology," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-10, December.
    3. Jiang, Ruth & Kleer, Robin & Piller, Frank T., 2017. "Predicting the future of additive manufacturing: A Delphi study on economic and societal implications of 3D printing for 2030," Technological Forecasting and Social Change, Elsevier, vol. 117(C), pages 84-97.
    4. Constantiou, Ioanna D & Kallinikos, Jannis, 2015. "New games, new rules: big data and the changing context of strategy," LSE Research Online Documents on Economics 63017, London School of Economics and Political Science, LSE Library.
    5. Nurmazilah Mahzan & Andy Lymer, 2014. "Examining the adoption of computer-assisted audit tools and techniques: Cases of generalized audit software use by internal auditors," Managerial Auditing Journal, Emerald Group Publishing, vol. 29(4), pages 327-349, April.
    6. Rowe, Gene & Wright, George, 1999. "The Delphi technique as a forecasting tool: issues and analysis," International Journal of Forecasting, Elsevier, vol. 15(4), pages 353-375, October.
    7. Curtis, Emer & Turley, Stuart, 2007. "The business risk audit - A longitudinal case study of an audit engagement," Accounting, Organizations and Society, Elsevier, vol. 32(4-5), pages 439-461.
    8. Norman Dalkey & Olaf Helmer, 1963. "An Experimental Application of the DELPHI Method to the Use of Experts," Management Science, INFORMS, vol. 9(3), pages 458-467, April.
    9. Worrell, James L. & Di Gangi, Paul M. & Bush, Ashley A., 2013. "Exploring the use of the Delphi method in accounting information systems research," International Journal of Accounting Information Systems, Elsevier, vol. 14(3), pages 193-208.
    10. Diego Valentinetti & Michele A. Rea, 2013. "XBRL for Financial Reporting: Evidence on Italian GAAP versus IFRS," Accounting Perspectives, John Wiley & Sons, vol. 12(3), pages 237-259, September.
    11. Keller, Jonas & von der Gracht, Heiko A., 2014. "The influence of information and communication technology (ICT) on future foresight processes — Results from a Delphi survey," Technological Forecasting and Social Change, Elsevier, vol. 85(C), pages 81-92.
    12. Frey, Carl Benedikt & Osborne, Michael A., 2017. "The future of employment: How susceptible are jobs to computerisation?," Technological Forecasting and Social Change, Elsevier, vol. 114(C), pages 254-280.
    13. Roßmann, Bernhard & Canzaniello, Angelo & von der Gracht, Heiko & Hartmann, Evi, 2018. "The future and social impact of Big Data Analytics in Supply Chain Management: Results from a Delphi study," Technological Forecasting and Social Change, Elsevier, vol. 130(C), pages 135-149.
    14. Iden, Jon & Methlie, Leif B. & Christensen, Gunnar E., 2017. "The nature of strategic foresight research: A systematic literature review," Technological Forecasting and Social Change, Elsevier, vol. 116(C), pages 87-97.
    15. Pilkington Marc, 2016. "Blockchain Technology: Principles and Applications," Post-Print halshs-01231205, HAL.
    16. Rohrbeck, René & Kum, Menes Etingue, 2018. "Corporate foresight and its impact on firm performance: A longitudinal analysis," Technological Forecasting and Social Change, Elsevier, vol. 129(C), pages 105-116.
    17. Poba-Nzaou, Placide & Lemieux, Nathalie & Beaupré, Daniel & Uwizeyemungu, Sylvestre, 2016. "Critical challenges associated with the adoption of social media: A Delphi of a panel of Canadian human resources managers," Journal of Business Research, Elsevier, vol. 69(10), pages 4011-4019.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kopyto, Matthias & Lechler, Sabrina & von der Gracht, Heiko A. & Hartmann, Evi, 2020. "Potentials of blockchain technology in supply chain management: Long-term judgments of an international expert panel," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    2. Peppel, Marcel & Ringbeck, Jürgen & Spinler, Stefan, 2022. "How will last-mile delivery be shaped in 2040? A Delphi-based scenario study," Technological Forecasting and Social Change, Elsevier, vol. 177(C).
    3. Zhu, Lin & Cunningham, Scott W., 2022. "Unveiling the knowledge structure of technological forecasting and social change (1969–2020) through an NMF-based hierarchical topic model," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    4. Di Zio, Simone & Bolzan, Mario & Marozzi, Marco, 2021. "Classification of Delphi outputs through robust ranking and fuzzy clustering for Delphi-based scenarios," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    5. Gebhardt, Maximilian & Spieske, Alexander & Birkel, Hendrik, 2022. "The future of the circular economy and its effect on supply chain dependencies: Empirical evidence from a Delphi study," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 157(C).
    6. Delke, Vincent & Schiele, Holger & Buchholz, Wolfgang & Kelly, Stephen, 2023. "Implementing Industry 4.0 technologies: Future roles in purchasing and supply management," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    7. Tiberius, Victor & Gojowy, Robin & Dabić, Marina, 2022. "Forecasting the future of robo advisory: A three-stage Delphi study on economic, technological, and societal implications," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    8. Prommer, Lisa & Tiberius, Victor & Kraus, Sascha, 2020. "Exploring the future of startup leadership development," Journal of Business Venturing Insights, Elsevier, vol. 14(C).
    9. Heiskanen, Aleksi & Hurmekoski, Elias & Toppinen, Anne & Näyhä, Annukka, 2022. "Exploring the unknowns – State of the art in qualitative forest-based sector foresight research," Forest Policy and Economics, Elsevier, vol. 135(C).
    10. Haarhaus, Tim & Liening, Andreas, 2020. "Building dynamic capabilities to cope with environmental uncertainty: The role of strategic foresight," Technological Forecasting and Social Change, Elsevier, vol. 155(C).
    11. Roßmann, Bernhard & Canzaniello, Angelo & von der Gracht, Heiko & Hartmann, Evi, 2018. "The future and social impact of Big Data Analytics in Supply Chain Management: Results from a Delphi study," Technological Forecasting and Social Change, Elsevier, vol. 130(C), pages 135-149.
    12. von Briel, Frederik, 2018. "The future of omnichannel retail: A four-stage Delphi study," Technological Forecasting and Social Change, Elsevier, vol. 132(C), pages 217-229.
    13. Laura Studen & Victor Tiberius, 2020. "Social Media, Quo Vadis? Prospective Development and Implications," Future Internet, MDPI, vol. 12(9), pages 1-22, August.
    14. Volkmar, Gioia & Fischer, Peter M. & Reinecke, Sven, 2022. "Artificial Intelligence and Machine Learning: Exploring drivers, barriers, and future developments in marketing management," Journal of Business Research, Elsevier, vol. 149(C), pages 599-614.
    15. Fritschy, Carolin & Spinler, Stefan, 2019. "The impact of autonomous trucks on business models in the automotive and logistics industry–a Delphi-based scenario study," Technological Forecasting and Social Change, Elsevier, vol. 148(C).
    16. Gebhardt, Maximilian & Spieske, Alexander & Kopyto, Matthias & Birkel, Hendrik, 2022. "Increasing global supply chains’ resilience after the COVID-19 pandemic: Empirical results from a Delphi study," Journal of Business Research, Elsevier, vol. 150(C), pages 59-72.
    17. Geissler, Dominik & Beiderbeck, Daniel & Schmidt, Sascha L. & Schreyer, Dominik, 2024. "Emerging technologies and shifting consumer motives: Projecting the future of the top-tier sports media product," Technological Forecasting and Social Change, Elsevier, vol. 203(C).
    18. Yuri Calleo & Mario Bolzan & Simone Di Zio, 2026. "A network-based fuzzy clustering approach to classify Delphi outputs in scenario development," Quality & Quantity: International Journal of Methodology, Springer, vol. 60(2), pages 5087-5121, April.
    19. Luoma, Päivi & Penttinen, Esko & Tapio, Petri & Toppinen, Anne, 2022. "Future images of data in circular economy for textiles," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    20. Leypoldt, Leo & Dienhart, Christina & Caferoglu, Hüseyin & Salge, Torsten-Oliver & Antons, David, 2024. "The hydrogen field in 2035: A Delphi study forecasting dominant technology bundles," Technological Forecasting and Social Change, Elsevier, vol. 207(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jiaata:v:37:y:2019:i:c:s1061951819300084. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/journal-of-international-accounting-auditing-and-taxation .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.