- 3 Marks
AA – Nov 2023 – L2 – Q5b – Audit and Assurance Risk Environment
This question identifies areas in the audit process where Robotic Process Automation (RPA) can be applied.
Question
The sixth Market Scan from the IAASB’s Disruptive Technology team explored Robotic Process Automation, a technology used for executing repetitive tasks that has applications across the audit process, from data transformation to work paper creation, as well as the potential for forming part of an audited entity’s IT environment. Robotic Process Automation (RPA) is a technology that involves creating software robots or “bots” to perform repetitive, routine manual tasks, such as extracting data, filling out forms, or moving files. By completing rules-based actions that emulate human processes, RPA tools can autonomously complete various activities across multiple unrelated software systems.
Required:
State THREE (3) areas of the audit process where RPA can be deployed.
(3 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Audit technology, Automation in audit, Robotic Process Automation, RPA
- Level: Level 2
- Topic: Audit and Assurance Risk Environment
- Series: NOV 2023