Emerging technologies, such as artificial intelligence (AI), are already reshaping the audit profession. In face of these rapid changes, the auditing profession is considering how to ensure it seizes new opportunities and prepares for the future of audit now.

The International Association for Accounting Education and Research (IAAER), the International Auditing and Assurance Standards Board (IAASB), the South African Independent Regulatory Board for Auditors (IRBA), and IFAC recently co-hosted a roundtable addressing these issues in Cape Town, South Africa. The event brought together audit and assurance practitioners, accounting educators and other stakeholders and was held under Chatham House Rule, that is, insights can be shared without attribution.

This is the first of two articles on this roundtable. This article summarizes key insights from the discussion on how AI will change audit delivery, including participants’ tips on practical elements of audit methodology, the roll out of technology in a firm, and views on the future.

The second, which will be published next week, explores attendees views on future opportunities, the implications for skills and competencies, and practical recommendations for professional accounting organizations (PAOs) and educators on preparing for the future.

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Michelle Cardwell
Michelle Cardwell

Principal

Michelle joined IFAC at the start of 2024, focusing on accountancy education, thought leadership, and international standards. In this role, she is part of the team responsible for IFAC’s International Education Standards, and works with the International Panel on Accountancy Education on revisions and supporting guidance. Michelle also supports IFAC’s work to promote the development, adoption, and implementation of high-quality international standards.

Michelle began her career at Deloitte, where she spent over eight years in their risk advisory practice, specializing in providing financial reporting and financial management advice on a range of complex central government and transport projects. After leaving Deloitte, Michelle spent time at the Institute of Chartered Accountants of England and Wales (ICAEW), as well as the UK Financial Reporting Council’s Lab. In both roles, she was responsible for developing guidance, thought leadership, and policy pieces on a range of financial reporting, assurance, and sustainability topics.

Michelle is a chartered accountant (ICAEW). She holds a MSc in Public Policy and Administration from the London School of Economics, and a BS in Political Science and a BA in American Studies, both from Arizona State University.

Nadine Kater

Independent Regulatory Board for Auditors (South Africa)

Nadine Kater is the Director: Education and Transformation at the Independent Regulatory Board for Auditors (IRBA). She has worked as a seasoned executive with 35 years’ experience providing strategic, tactical, and operational leadership in promoting skills development and quality assurance in the accounting profession in the education and training arena.

This is supported with a strong track record working for professional bodies in the accounting and auditing sector in senior management and strategic roles since 1996. Nadine has held executive roles at the SA Institute for Professional Accountants (SAIPA), was Country Head at the ACCA, held a Senior Executive role at SA Institute of Chartered Accountants (SAICA) with responsibility for the joint venture with the Association of Accounting Technicians (AAT) and the launch of the AT(SA) qualification in South Africa.

Formerly, Nadine held several positions at Fasset, between 2000 and 2011, including the Chief Operations Officer and Director of Learnerships. Fasset is the Sector Education and Training Agency (SETA), a skills development agency, for the financial and services sector in South Africa.

Nadine initially qualified with a Higher Diploma in Education, (with distinction) majoring in Accounting, Economics, Business Economics, Pedagogics. She also holds a B Comm (Accounting, Business Management, and Industrial Psychology) from the University of Johannesburg (formerly Rand Afrikaans Universiteit) and an MBA from GIBS Business School (University of Pretoria). Nadine is also a qualified PMP through the Project Management Institute.

Nadine has held a number of Board and Audit Committee positions and was nominated as one of SA’s Most Influential Woman of the Year in 2012 and was a finalist for Africa’s Most Influential Woman of the Year in 2014.

Zaakirah Mohamed
Zaakirah Mohamed

Zaakirah Mohamed is a Chartered Accountant and Registered Auditor, currently serving as an Audit Inspector with the South African Independent Regulatory Board for Auditors (IRBA). In this role, Zaakirah is a vital part of the Audit Development Program (ADP), where she specializes in monitoring the environments at audit firm that are developing future Registered Auditors to ensure they are fit for purpose by evaluating firms’ compliance with the current quality standards.

Zaakirah holds a Bachelor of Accounting Sciences degree from Wits University, where she was also a member of the astute Golden Key Members and brings over a decade of experience in the auditing profession.

Zaakirah completed her articles at a Big Four firm, gaining expertise in the Mining and Natural Resources industry as well as specializing in Learning and Development, with a focus on both technical and interpersonal skills. She has worked in and out of practise, spending 2 years in Commerce as a Financial Manager in the Automotive industry, however, always finds her way back to the world of Auditing. Her career spans both practical and theoretical aspects of auditing, consistently demonstrating a commitment to excellence and a passion for the field.

Zaakirah’s work focuses on supporting firms in aligning their quality systems and structures with established standards and regulations, ensuring compliance and promoting best practices. She has extensive experience in both education and auditing, with her role at the IRBA allowing her to integrate these areas to strengthen the pipeline of auditors entering the profession.

Bruce Vivian
Bruce Vivian

Head of Accountancy Education

Bruce qualified as a Chartered Accountant in South Africa in 2006. He started his career by spending six years with PwC in assurance before taking a three-year hiatus to serve in his local church as a youth pastor. In 2013, he joined the learning & development unit at the Auditor-General South Africa as a manager for technical learning. He graduated with a Master of Commerce (Accounting) in 2016.

Before joining IFAC, Bruce served as Senior Manager of Professionalization at the African Organisation of English-speaking Supreme Audit Institutions (AFROSAI-E), where he led the establishment of the African Professionalisation Initiative. In this role, he also contributed to various professionalization activities in the International Organization of Supreme Audit Institutions (INTOSAI) community. He was a member of the task force that developed INTOSAI’s new auditor competence standard: ISSAI 150. He contributed as a content developer for the INTOSAI Development Initiative’s Professional Education for SAI Auditors (PESA) project.

Bruce joined the IFAC staff in mid-2021 as a Principal. His responsibilities initially included member engagement and being the staff lead to the PAO Development & Advisory Group. In 2023, he was appointed as IFAC’s Head of Accountancy Education.

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