The adoption of intelligent robot automation by auditors within South Africa
Date
2021
Authors
Naidoo, Evaashan
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Abstract
To automate, or not to automate, that is the question? The use of disruptive technologies has changed, and in many instances, has replaced traditional business operations and models. The auditing profession has been burdened with high costs and reputational damage as a result of false results due to a high dependency on manual tasks that are susceptible to errors or manipulation. The use of robots to help minimise these errors, achieve efficiencies and reduce costs, provides a convincing theoretical case to automate. The objective of this research is to apply the Unified Theory of Acceptance and Use of Technology (UTAUT) model to understand the views of audit professionals determine the factors that would influence organisations to use robot technology for performing audits in South Africa. The study adopted a quantitative approach, where a survey questionnaire consisting of 39 questions, aligned with the UTAUT model, was used to gather data. The sample comprised 59 auditors and 26 non-auditors who were involved in audits performed in South Africa. The non-auditors comprised of a Chief Information Officer, Finance Managers, Heads of Product, and various Senior Risk Management Professionals. A purposive sampling technique was used to select individuals who had an understanding of the capabilities of robots, and the potential use of robots to support business operations. The results of the study highlighted that performance expectancy and facilitating conditions were the key factors that influenced the adoption of robots in audits. Auditors and clients were more likely to use robots if they felt it would improve their performance. The respondents were more likely to use robots if it enabled the quicker completion of tasks, reduced errors, increased the number of tasks that could be completed and delivered better value than manual processes. The study also highlighted that sufficient investment and management support would be provided to ensure that an enabling environment is established for using robots to perform audit tasks. This would include acquiring management support as well as finding hardware, software, and skills to support the robotics development initiatives. The study provides more insight on how leaders and management in the auditing field can use insights attained through this study to successfully influence and support the use of robots to perform audits. Furthermore, the study contributes to an increased used of robotics in auditing which could improve the quality and efficiency of the auditor’s work. The study contributes towards the body of knowledge in the accounting and robot fields of study
Description
A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the Degree of Master of Management in the field of Digital Business, 2021
Keywords
Robots, Auditing, Automation, Unified Theory of Acceptance and Use of Technology, UTAUT, Audit, Auditor