OCTOBER 2019CIOAPPLICATIONS.COM6Copyright © 2019 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.October - 09 - 2019, Volume 05 - Issue 56 (ISSN 2644-240X) Published by ValleyMedia, Inc. To subscribe to CIO ApplicationsVisit www.cioapplications.com Managing EditorJoe Phillip*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffSalesSebastian Jacobsebastian@cioapplications.comEmailsales@cioapplications.comeditor@cioapplications.commarketing@cioapplications.comContact UsPhone: 510.330.5174Fax: 510.894.8405EditorialAudit Management: Now and ThenThe steady adoption of technological developments over the years has predominantly transformed the overall audit approach. From being a process that was handled only by auditors, the "auditing" process has today evolved into a collaborative task that involves key members of organizations--all thanks to technology. Owing to its effectiveness, time-saving capability, and the ability to improve productivity and performance, auditors continue to invest in advancing technologies while regulated companies around the globe embrace audit management software like never before. Researchers state that a more risk-taking approach would be required to further transform an auditor's role and process. The continued evolution is expected to be thoroughly supported by technologies such as analytics, cognitive computing, and blockchain. In fact, surveys have predicted that the audit management software market will register a CAGR of almost 12 percent by 2023.With rapid improvements, analytics technology has been making rounds in the market as it enables auditors to provide an effective analysis of data sets. Effective analytics allows auditors to review audit evidence, as well as identify issues and suggest changes in real-time. It improves the quality of audits with its ability to categorize data and carry out focused analysis of complex data sets. For streamlining and standardizing the audit process, the vendors in the market are integrating audit management software with AI-based cognitive computing. This provides businesses with opportunities to improve their services and derive meaningful insights through their audit process while automating repetitive or low-impact tasks.Another major trend that has been gaining traction in the market is the use of blockchain. With blockchain-based smart contracts, auditing would become real-time, bringing more transparency and accountability in the overall process, followed by extensive reporting.On that note, CIO Applications bring you this edition on Audit Management. Scroll through the pages and let us know your thoughts.Joe PhillipManaging Editoreditor@cioapplications.comJoe PhillipGraphics & ArtAsher BlakeEditorial StaffBen JacksonDaniel HolmesEzra BenjaminSovietRose DcruzSenior WritersClara MathewLeah JaneRoyce D'Souza
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