Challenges for the auditing industry in the era of technology 4.0

The State Audit Office organized a workshop on “Industrial Revolution 4.0 and challenges for State Auditors” (November 15) to raise awareness of the Industrial Revolution 4.0 and identify challenges for State Auditors to proactively keep up with the trends of the times.

Speaking at the workshop, State Auditor General Ho Duc Phoc emphasized: This is a revolution in smart manufacturing based on the Internet of Things, artificial intelligence, social networks, cloud computing, mobile, big data analysis... to transform the entire real world into the digital world.

State Auditor General Ho Duc Phoc

The fourth industrial revolution will redraw the world economic map of leading enterprises; low-cost unskilled labor is gradually losing its advantage; production is gradually shifting from countries with many unskilled laborers and resources to countries with many research and development centers, many skilled and highly specialized laborers, and close to consumer markets.

Technological breakthroughs in the fields of energy, materials, the Internet of Things, artificial intelligence, robotics, and 3D printing have dramatically reduced cost pressures, thereby reducing the prices of goods and services.

Mr. Ho Duc Phoc said: Accessing the achievements of the new production revolution will create a powerful tool to help Vietnam effectively participate in the global value chain and accelerate the country's industrialization and modernization process. Breakthrough technological reforms can lead to miracles in production and productivity, positively impacting long-term growth.

Besides, the 4.0 industrial revolution also poses many new challenges for developing countries like Vietnam. That is the challenge of falling further behind. If we do not proactively go in the right direction and keep up with the pace, low-cost labor will gradually lose its advantage, the gap between technology and knowledge will widen, leading to deeper social polarization.

The State Auditor General believes that proactively seizing opportunities to overcome challenges is the responsibility of each sector, each level, and each unit. The State Audit needs and implements appropriate strategies and plans, proactively building the 4.0 revolution, especially improving audit capacity, applying modern processes, technologies, optimal information technology tools, new skills, and modern equipment to complete assigned tasks.

At the workshop, delegates said: To integrate with the civilized world that is moving strongly into the era of industrial revolution 4.0, it is important to innovate in the right direction of modernization of education to train a workforce with sufficient knowledge and skills to adapt to the new era. State auditors need to improve their understanding, practical skills, and apply information technology in the process of performing audit tasks.

In the future, audited units of ministries, branches and localities will increase the application of digital technology in their operations, from management activities to financial and accounting work. To improve audit efficiency, each Auditor must have the appropriate qualifications to be able to learn and proficiently use the tools used by the audited unit. In addition, understanding digital technology also helps the process of management and information exchange within the State Audit to be faster, more convenient and more careful, improving the effectiveness of audit management activities.

The presentations at the Workshop discussed a number of main contents such as: Clarifying the characteristics, nature, and features of the 4.0 industrial revolution; analyzing and evaluating opportunities and challenges for the auditing industry in general and State Auditors in particular during the 4.0 industrial revolution; requesting to point out solutions and responsibilities of the State Audit industry during the 4.0 industrial revolution.

» 'Talk less about 4.0, let's do it'

» Failure to comply with audit decisions will result in a fine of up to 100 million VND

According to Do Binh/baotintuc