The Role of Cloud-Based Systems in Enhancing Efficiency and Reliability in Modern Audit Engagements
Posted: Jan 21, 2021
Abstract
The evolution of auditing practices has been significantly influenced by technological advancements, with cloud computing emerging as a transformative force in modern audit engagements. Traditional audit methodologies, while effective in their time, increasingly struggle to address the complexities of contemporary business environments characterized by massive data volumes, real-time transactions, and sophisticated financial instruments. The integration of cloud-based systems presents unprecedented opportunities to enhance both the efficiency and reliability of audit processes, yet comprehensive frameworks for their implementation remain underdeveloped in both academic literature and professional practice. Cloud computing's distributed nature offers inherent advantages for audit engagements, including scalability, accessibility, and computational power that far exceed traditional on-premise solutions. However, the migration to cloud-based audit systems introduces unique challenges related to data security, regulatory compliance, and methodological adaptation. This research addresses these challenges through the development of an innovative cloud-based audit framework that incorporates quantum-inspired algorithms and blockchain verification mechanisms to create a robust, efficient, and reliable audit ecosystem. The significance of this research extends beyond technical implementation to address fundamental questions about audit quality in the digital age. As organizations increasingly rely on cloud infrastructure for their core operations, audit methodologies must evolve to maintain relevance and effectiveness. This paper contributes to this evolution by proposing and validating a comprehensive cloud-based audit framework that demonstrates measurable improvements.
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