Problem
Continuous auditing can be described as automating the audit plan, via scheduled automated procedures. These procedures can synchronize with the timing and frequency of data evaluation. The auditor can be automatically updated with exception reporting.
Formulate an opinion as to whether this is the scope of continuous auditing or if there is a much larger spectrum? Do you feel continuous auditing will replace traditional audits we conduct today? Why or Why not?
Give an example of when an RPA-Robotic Process Automation would be useful in any accounting discipline. Describe the processes and steps that the RPA would replace and why that would be beneficial. Also, discuss the risks that are involved by moving to this RPA process.