We are now several years into sweeping changes to the audit market. Most of the regulatory direction has focused on the structure of the market while standard setters have looked at enhancing quality in audit, as well as providing comfort to end users and stakeholders.

The audit profession has had to deal with a perception that, at times, the relationship between auditor and client has become too cosy and created a culture within audit organisations where issues aren’t challenged robustly enough with those they audit.

During this time, audit providers have looked at using technology to become smarter in understanding a business’ financial position and better utilising data to counter potential fraud or ...