Paper Title
The Influence of Disruptive Technologies on the Financial Services Industry and Auditing Standards
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Keywords
Keywords: - Financial Services, Technological Innovation, Artificial Intelligence, Blockchain, Robotics, Automation, Audit Performances, Digital Transformation
Abstract
Abstract The financial services sector is rapidly evolving. FinTechs have emerged due to the confluence of technology and finance, altering the fundamental basis of the financial industry. It is anticipated that the success of financial firms would be reliant on their capacity to shape the sharing economy and customer intelligence and deal with technological advances such as blockchain, robotics, Artificial Intelligence (AI), and others. This transition has resulted in a fundamental shift for many organizations that were not previously considered digital enterprises in the business world. However, these firms recognize that digital transformation is necessary, and a fundamental culture shift generates value. They prioritize investments in new systems and data analytics technologies to understand better their business and the needs of the markets they serve to avoid being disrupted. Audit firms must consider how change may impact their business practices like corporate organizations. This is more than a technological shift as well as a transformation in how auditors perform their duties. It enhances connectivity, utilizes automation to boost time spent on areas needing judgment, and aids in enhancing analysis and insight.
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How To Cite (APA)
ARUN ARANGIL (May-2022). The Influence of Disruptive Technologies on the Financial Services Industry and Auditing Standards. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 7(5), 305-312. https://ijnrd.org/papers/IJNRD2205032.pdf
Issue
Volume 7 Issue 5, May-2022
Pages : 305-312
Other Publication Details
Paper Reg. ID: IJNRD_181297
Published Paper Id: IJNRD2205032
Downloads: 000121998
Research Area: Science & Technology
Author Type: Indian Author
Country: PATEL NAGAR, DELHI, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2205032.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2205032
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