Robots.
Robotic process automation, or RPA for short.
Can robots audit financial statements?
The thing about this question is, as audits are time consuming, you would need to ask, does the person I am providing this GPFR to have an automated system, such as a robot, that can audit the report.
Banks might have them.
Investors likely won't.
QBCC might.
A robotic process might be:
- If "Trade Receivables" is higher than $1,000,000, for 2022,
- then,
- Does the "Trade receivables" accounting policy contain these words "xxxxxxx"
If -> then
If -> then
If -> then
If you find yourself thinking, "Is an audit happening" then consider the fact that they might deploy robots to do the bulk of the work.
