technology has the promise to bring it's for companies including audit firms but it also brings risks it brings risks to audit firms not only through the new technologies that they're using to improve their audit process but also they need to think about the risks that their companies that they're auditing bring through new technologies in addition we think it's going to be very important for firms to manage those risks carefully to make sure that the audit work they do is sufficient the fourth Industrial Revolution is really accelerating the pace of change as you can imagine and the impact for the finance and audit function is going to be amazing so today we are going to talk about first of all how do we need to understand the transformation of the business model of environments that we are looking at second is linked with this transformation we need to figure out what kind of risk are emerging and also we need to see the other side of the cone which is to consider how the audit can benefit from these new tools as well artificial intelligence is not future it's not far away it's happening now and we should really try to deal with that and copy don't be afraid of AI it can help us a lot in our work how to progress better how to develop better our capacities and also to be more efficient efficiency more competitive so I know that we all feel fear from AI but it is very important to somehow think all the time on the one goal and the goal is that we should develop AI in a way that its support and improve human lives and the professional capacities well my main message is that the audit opinion has behavioral acts aspects related to it because it involves human judgment now whenever there is judgement there might be you know cognitive limitations now in the setting of big data and analytics this is an important thing because we don't really know what these cognitive limitations will be when auditors are confronted with big data how can we solve this well we can do research on this and this is what I what my message is let's do research on this and develop appropriate tools such that audit quality can be improved in a world that is rapidly changing and empowered growingly by artificial intelligence there are three things that the profession has to focus on one is design diagnose and decide well design because I think artificial intelligence is only doing what we humans ask is to do jack knows well we've all been there companies are managed by people and very often it takes people to understand people to know what the real problem to solve is and decide well artificial intelligence is very good at automating decision making when it is rule-based but at the end of the day you need humans to make the ethical judgment to take a forward look at what are the consequences of decisions and take into account the public interest and that's what the profession is best placed to do so I was talking about some of the developments in standard setting for the idle ASB and really just recognizing that technology is an import really important topic for them and and also that they can see the benefits that that the various technological tools and capabilities can bring to audit quality and they're just reflecting from a personal perspective on what we see day-in day-out in the practice and the opportunities that that will definitely bring to us naturally audit quality came up quite a lot today in terms of how artificial intelligence and emerging technologies can really improve the level of quality in the audit service that's been provided to organizations but what we were really trying to draw out this that doesn't necessarily mean that a pure answer for an organization and actually there's very hand in handy with delivering more value to clients and and really seeing that shift is we we see a lot of talk about the move from compliance to advisory for accounting firms that actually these technologies can really drive a change in the value delivered to a client and therefore the changing what they're looking for from their accounting firm so driving that real shift - and or continuous service offering in a way that accounting firms can deliver a more advisory like way of delivering compliance services you