| Abstract [eng] |
The main aim of this master’s thesis is to analyze the transformation of the financial statement audit process in the context of digitalization. The thesis seeks to determine how digital technologies are changing the organization of the audit process, the execution of audit procedures, and the role of the auditor in modern audit practice. The thesis consists of three main parts: theoretical analysis, empirical research and its results, conclusions and recommendations. The theoretical part of the thesis analyzes the concept of the financial statement audit process, the differences between traditional and digital auditing, and the main aspects of digitalization in the audit context. It also discusses the impact of digital technologies on different stages of the audit process and examines the possibilities of applying data analytics, artificial intelligence, process automation, and other advanced technologies in financial statement auditing. Furthermore, the theoretical part identifies the main benefits, challenges, and changes in the auditor’s role arising from technological transformation. The empirical research included an analysis of publicly available communication published by international audit firms and semi-structured interviews with audit experts who have practical experience in implementing or applying digital solutions in financial statement audits. The research aimed to identify the main directions of applying digital solutions, their impact on the audit process, and to evaluate how the digitalization trends emphasized in public communication are reflected in practical audit activities. The results of the study revealed that the digitalization of financial statement auditing is a complex process that significantly affects audit methodology, the nature of audit procedures, and the professional role of the auditor. The findings showed that data analytics, artificial intelligence, process automation, and cloud technologies are becoming increasingly important in modern auditing, enabling auditors to analyze large volumes of data, automate routine procedures, and identify risks more effectively. The study determined that digitalization has the greatest impact on audit planning, risk assessment, execution of procedures, and audit evidence collection, while areas requiring professional judgment and professional skepticism remain highly dependent on the auditor’s competencies. The study also revealed that the public communication of audit firms mainly emphasizes the benefits, efficiency, and innovation of digital solutions, whereas experts provide a broader perspective on the practical challenges associated with their implementation. The most significant challenges are related to data quality issues, regulatory uncertainty, explainability of artificial intelligence models, and the risk of excessive reliance on automated solutions. The findings suggest that technological advancement does not eliminate the importance of professional judgment in auditing; however, it fundamentally changes the nature of auditors’ tasks and the structure of competencies required in the profession. In the conclusions and recommendations section, after summarizing the results of the theoretical analysis and empirical research, insights are provided regarding the transformation of the financial statement audit process in the context of digitalization, and possible directions for future research are identified, including artificial intelligence applications in auditing, changes in auditors’ competencies, and the impact of technological solutions on audit quality. |
