Strategy: CHANGE Framework in audit professional
1. Introduction
In the current era, digital technology has significantly disrupted the auditing profession. The traditional method of random document review is shifting toward holistic, in-depth data analysis. This content, discusses the concept of “CHANGE” provides a strategic framework for transforming attitudes, work processes, and the application of technology to elevate the quality of auditing to international standards.
2. CHANGE Framework Concept
| Alphabet | Topic | Operational Guidelines |
|---|---|---|
| C | Continuous Auditing & Cloud | • Transition the data storage and auditing software to a secure cloud system. • Develop a continuous auditing system to monitor data in real-time, instead of waiting until the end of the year for audits. |
| H | Human-Machine Collaboration | • Clearly define workloads, allowing automation to handle repetitive tasks. • Focus on enabling auditors to use professional judgment for advanced analysis and consulting. |
| A | Audit Data Analytics (ADA) | • Cancel sampling methods and switch to data analytics tools. • Verify 100% of the population data to increase the chance of detecting anomalies. |
| N | New Norms & Tech Agility | • Updated on auditing standards related to new technologies. • Foster a corporate culture that encourages learning new tools (e.g., AI, Blockchain, Digital Assets). |
| G | Good Governance & Cybersecurity | • Implement advanced cybersecurity measures to protect client s’ confidential information. • Strictly comply with Personal Data Protection Act (PDPA) and professional ethics. |
| E | Evidence Quality & Efficiency | • Use technology to increase the reliability of Audit Evidence. • Reduce repetitive work processes to increase efficiency for delivering work faster and more accurately. |
3. Expected Outcomes
- Quality & Accuracy: The quality and accuracy of financial reports are improved, reducing the risk of potentially overlooked errors.
- Time & Cost Optimization: Reduced working hours in the document preparation process allow the team to focus on strategic analysis.
- Client Trust: Build trust with clients and stakeholders through modern, transparent, and secure auditing.
4. Conclusion
The CHANGE Framework in the audit professional is not just about buying new software, but about a culture shift that seamlessly integrates technology with human judgment to maintain credibility standards and add long – term value to the organization.
Author:
Mr. Peradate Pongsathiansak,
President of Dharmniti Auditing Co., Ltd.