Simon Cleveland, UK Public Policy and Regulatory Lead at Deloitte and Katie Canell, Managing Director, UK Audit Innovation at Deloitte, discuss the role of technology in helping to improve audit. Technology has drastically changed the world of audit, they agree, and data extraction will be a key development in the years to come. Technology must be considered for future audit reform, they also assert. “As companies are more able to use technology to describe their business, with more forward–looking risks and opportunities, being able to scenario model those using data and technology, then clearly there’s an opportunity for the audit product to evolve with that as well,” says Cleveland.

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