The digital transformation of auditing: Skill requirements and Adaptation strategies within the Big 4 firms in Sweden

Sammanfattning

Title: The digital transformation of auditing: Skill requirements and Adaptation strategies within the Big 4 firms in Sweden. Background: Digitalization is fundamentally transforming the auditing profession by integrating advanced technologies into audit processes. The Big 4 firms in Sweden are leading the way in adopting these technologies, which substantially impact the skills requirements for auditors. Purpose: These thesis aims to explore how digital transformation influences the skill requirements for auditors within the Big 4 firms in Sweden and to evaluate the adaptation strategies these firms employ to meet these evolving demands. Methodology: A qualitative approach was used, involving semi-structured interviews with auditors from the Big 4 firms in Gothenburg, Sweden. Interviewees were selected to provide diverse insights based on their organizational roles and years of experience. Empirical findings: The study finds that digital tools such as Big Data Analytics, Artificial Intelligence, and Robotic Process Automation have significantly transformed audit processes. As a result, auditors need to develop new technical skills, such as data analytics and cybersecurity, as well as soft skills like critical thinking and professional judgment. The Big 4 firms have implemented various training programs and invested in digital innovations to adapt to these changes. Conclusions: The findings confirm that digital transformation is driving significant changes in the auditing profession. The necessity for continuous skill development aligns with existing literature, highlighting the importance of ongoing learning and adaptation. The study highlights the importance of a balanced strategy, emphasizing that auditors' technical skills should be accompanied by their capacity for professional judgment. The Big 4 firms' strategies, including tailored training programs and investments in digital tools, are essential for maintaining audit quality and addressing the evolving skill requirements.