IMPACT OF EMERGING TECHNOLOGIES ON AUDIT PRACTICES IN SELECTED AUDIT FIRMS IN TARABA STATE
Keywords:
Emerging technology, audit practice, Artificial intelligence, data analytics, Robotic process automation.Abstract
The study examines the impact of emerging technologies on audit practices in Taraba State. In an attempt
to provide answers to the research questions and hence address the research objectives, correlational
research design and survey were employed and the population size used is 100 respondents. The study
employed census sampling technique and used the entire population. Structured questionnaire was used in
eliciting the required information (data) needed to answer the research questions using the five (5) point
Likert scale. Pearson Product Moment was used to analyze the correlation between the dependent and
independent variables. The study employed correlation and structural equation model (SEM) regression
for data analysis. The study reveals that Artificial Intelligence (AI) significantly has positive impact on
audit practices in Taraba State, suggesting these technologies are valuable tools for enhancing audit
effectiveness. The study also reveals that Data Analytics (DA) significantly and positively impact audit
practices in Taraba State, implying that DA is one of the tools that enhancing audit practice effectiveness.
Robotic Process Automation (RPA), however, does not show significant effects, indicating their current
application in audit practices may be limited or in early adoption stages. The results advocate for greater
emphasis on integrating Artificial intelligence and Data analytics in auditing processes to leverage their
benefits fully. This highlights the potential for these technologies to improve audit quality, efficiency, and
reliability. The study recommends that audit firm should invest in and prioritize the implementation of
technology to improve audit accuracy, efficiency, and overall quality. Audit business should implement a
continual training program to equip auditors with the requisite abilities to properly utilize technologies
and incorporate software into current audit processes to automate monotonous and labour-intensive
operations.
