This book brings together ideas for action that auditors can deploy, to dramatically raise effectiveness in a connected, internet technology- driven world. The timing could not have been more fortuitous. The minds of the entire profession, the corporate world and the banking world are riveted on the idea of strengthening control mechanisms which will prevent frauds. By deploying cyber and digital security measures as guard rails and cleverly using available artificial intelligence protocols, machine learning facilities and data analytics, the fault lines can be identified within established and reliable frameworks.
The purpose of this book will be served best if used cases are shared with the objective of raising the bar on quality auditing externally. Continuous monitoring and continuous auditing will, when combined with high quality internet-driven technology, be the greatest antidote to fraud. All this can best be reported upon externally by using the integrated reporting framework. Only by concerted and coordinated action by all the players in our ecosystem can we usher in a safer, dynamic, fast growing and high-performing India.