Future of Work in the Audit profession

Abstract

This thesis examines how emerging technologies, evolving regulation and broader societal expectations are reshaping the future of work in the external audit profession. The study draws on academic literature together with selected recent professional publications produced by major audit firms, regulators and international oversight bodies. These sources are used to identify the key external forces influencing the development of audit practice and the conditions under which audit work is carried out. A PESTEL‑based qualitative content analysis is applied to structure these drivers, and the analysis is subsequently extended through the use of the Gausemeier scenario methodology to develop three exploratory future scenarios for the profession.

The findings suggest that technological transformation, most notably the increasing use of data analytics and artificial intelligence, is fundamentally reshaping audit workflows and expanding the competence requirements placed on auditors. At the same time, regulatory developments are intensifying, and new assurance domains such as sustainability reporting are becoming more prominent. These changes are reinforced by persistent labor‑market challenges, which together contribute to increasing complexity in audit work and its organization. Building on these developments, the scenario set illustrates how different combinations of technological, regulatory and workforce‑related drivers may shape the profession’s future operating environment. Scenario A describes a cohesive, technology‑driven transformation in which client readiness and relatively stable regulatory conditions enable coordinated change. Scenario B reflects a more incremental and uneven path, where innovation progresses selectively but is constrained by limitations in resources, capabilities and regulatory complexity. Scenario C portrays a high‑pressure future characterized by rising demands, heightened scrutiny and delayed adaptation under increasingly strained conditions.

Overall, the thesis argues that the audit profession’s long‑term resilience and its ability to sustain professional legitimacy do not depend on technology adoption alone. Instead, they are shaped by the responsible integration of advanced technological tools, the development of interdisciplinary capabilities and the continued importance of communication, ethical competence and professional integrity in audit work. These elements are central to maintaining trust and credibility in an environment where both expectations and accountability pressures are expected to increase.