The Extent to Which External Auditors in Audit Firms and Accountability State Authority are Aware of the Repercussions of the Fourth Industrial Revolution on Auditing of Financial Statements as an Integrated Professional Service - A Comparative Exploratory Study.

Document Type : Original Article

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Accounting and Auditing department Faculty of Commerce Alexandria University Egyptian

Abstract

The research aimed to study and analyze the technical features of the fourth industrial revolution and its professional repercussions on accounting and auditing, in order to explore the extent to which external auditors in Egypt are aware of the challenges facing the profession in light of the fourth industrial revolution and the repercussions it imposes on the foundations of the profession in terms of; practical and professional qualifications of auditors, auditing approach, organization the auditing profession, and the model of external auditing of financial statements represented in its four phases, which are;  agreeing the terms of audit engagements, audit planning, obtaining and evaluating audit evidence,  and forming an opinion and reporting.
By conducting an exploratory study on a random sample of 25 auditors  in Accountability State Authority and 38 auditors in Audit Firms, the research concluded that there is an awareness of the repercussions of the Fourth Industrial Revolution on External auditing as an integrated professional service, with no significant differences between the awareness of the members of the exploratory study sample of Audit Firms' auditors and Accountability State Authority' auditors about the repercussions of the fourth industrial revolution on external auditing as an integrated professional service.

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