Audit Profession to Grow by 2026
A growing number of workers are concerned that Artificial Intelligence (AI) will take over all if not part of their jobs. The Pew Research Center conducted a study discussing the impact that automation could have upon jobs in the United States. And while advances in technology continue to appear from automated vehicles to the seemingly limitless technology of the 3D printer, the Auditing Profession remains hopeful. An additional report was just released showing a significant amount of jobs needed within the Auditing and Accounting Profession.
Technology and Auditors
In our previous post Technological Advance and the Audit Practice, we discussed the automation of processes that are normally completed by employees in the Auditing profession. From data analysis to improved blockchain, automation gives Auditors an opportunity to maintain a fluid workflow allowing software to do some of the more menial tasks. But does this automation replace the Auditor? Where is the Auditing Profession headed as a career?
Future Auditor Careers
With automation, along with mounting concern of AI’s role in employment, it is natural to wonder the impact of automation upon a career. Even more, it is good practice to look at the changing landscape with careers, especially for individuals heading into universities. The good news is that it appears AI will not impact the need for the Auditor. In fact, growth in the field is predicted. The Knowledge Academy reported earlier this year that the Auditing and Accounting profession will see a need for 140,000+ jobs by 2026. It is forecasted that AI will increase the need for Auditors, as they will need to be present to analyze specifics of automated data, thus increasing the attractiveness of someone wishing to pursue Auditing as a profession.
The simple definition of an Auditor is a person who remains abreast of an entity’s accounts and verifies accuracy of said accounts. The role of an Auditor is executed by a professional with an in-depth knowledge of systems, processes and business cultures in order to mitigate risks associated. Knowledge is needed of governance processes to organize the entities goals and assist them with meeting objectives. Analysis, evaluation, global mindset, assessing ethics, the economy and the communication of this information are just a few of the myriad of skills needed in order to become a successful auditor. It also takes more than just an ability to understand the information, this information must be assimilated for the business receiving the Auditor’s services. Additionally, the auditing profession is becoming increasingly specialized, giving Auditors the opportunity to pair their profession with niche roles. For example, data specialists are needed within the environmental sector to maintain regulations with the EPA, and someone with a background in another field could easily transition into becoming an Auditor.
If you enjoy working with people, upholding quality standards and have a great attention to detail, the auditing profession might be for you. Increasingly, with the role of technology and AI, it may mean that your passions and job skills are more in the technological side of the career. Either way, with Auditor career growth predicted, the auditing career is a great field to consider or to transition to in the future.
Audit Specialists Serving Augusta, GA
Opting for a career in Auditing? At The Baird Audit Group, we are currently accepting applications. Established in 1927, why not join a company that has a long history and upholds a tradition of excellence and professionalism. We are located in Augusta, GA, and can be reached by calling 706-855-9500 or online. We look forward to seeing you launch your Audit Profession!