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Impacts of digitization on auditing: A Delphi study for Germany

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  • 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
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    Cited by:

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    3. Yang Dong & Haiying Pan, 2023. "Enterprise Audits and Blockchain Technology," SAGE Open, , vol. 13(4), pages 21582440231, December.
    4. Marco Bellucci & Damiano Cesa Bianchi & Giacomo Manetti, 2021. "A literature review on blockchain in accounting research," Working Papers - Business wp2021_04.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    5. Lisa-Marie Semke & Victor Tiberius, 2020. "Corporate Foresight and Dynamic Capabilities: An Exploratory Study," Forecasting, MDPI, vol. 2(2), pages 1-14, June.
    6. Pizzi, Simone & Venturelli, Andrea & Variale, Michele & Macario, Giuseppe Pio, 2021. "Assessing the impacts of digital transformation on internal auditing: A bibliometric analysis," Technology in Society, Elsevier, vol. 67(C).
    7. Fontrier, Anna-Maria & Kamphuis, Bregtje W. & Kanavos, Panos, 2023. "How can health technology assessment be improved to optimise access to medicines? Results from a Delphi study in Europe," LSE Research Online Documents on Economics 120537, London School of Economics and Political Science, LSE Library.
    8. Afsay, Akram & Tahriri, Arash & Rezaee, Zabihollah, 2023. "A meta-analysis of factors affecting acceptance of information technology in auditing," International Journal of Accounting Information Systems, Elsevier, vol. 49(C).
    9. Tiberius, Victor & Siglow, Caroline & Sendra-García, Javier, 2020. "Scenarios in business and management: The current stock and research opportunities," Journal of Business Research, Elsevier, vol. 121(C), pages 235-242.
    10. Victor Tiberius & Meike Rietz & Ricarda B. Bouncken, 2020. "Performance Analysis and Science Mapping of Institutional Entrepreneurship Research," Administrative Sciences, MDPI, vol. 10(3), pages 1-21, September.
    11. Mauksch, Stefanie & von der Gracht, Heiko A. & Gordon, Theodore J., 2020. "Who is an expert for foresight? A review of identification methods," Technological Forecasting and Social Change, Elsevier, vol. 154(C).

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    More about this item

    Keywords

    Artificial intelligence; Auditing; Big data analytics; Blockchain technology; Delphi study; Digitization; Germany;
    All these 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

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