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Using drones to enhance audits

Source: Journal of Accountancy. Podcast: Hosted by Courtney Vien.

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Drones are a transformative technology hailed as one of eight topics at the heart of the UN World Economic Forum (WEF) focus areas for the Fourth Industrial Revolution.

“According to the WEF, the Fourth Industrial Revolution ushers in a host of new technology that will change the very essence of every occupation. This implies that accountants and auditors will need an entirely new skillset in order to use technology effectively and efficiently in their day to day operations.

Is your organisation ready? Have you changed your approach to the use of technology in managing your client base as yet?”

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Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories. The goal of the project is for drones to autonomously scan bar codes, QR codes, and other labels and transmit that data to EY’s online auditing platform. It has the potential to make audits faster and more seamless for both auditors and clients.

Click here to listen to the podcast.