An Exploration of Technological Innovations in the Audit Industry: Disruption Theory Applied to a Regulated Industry*

IF 1.6 Q3 BUSINESS, FINANCE
Krista Fiolleau, Carolyn MacTavish, Errol Osecki, Linda Thorne
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引用次数: 0

Abstract

Technological innovation is increasing throughout the audit industry. Although prior research has explored how specific technological innovations have influenced the audit product and the profitability of the audit, the strategic implications of technological innovation for the audit industry have yet to be examined. To address this issue, we adopt Christensen's seminal theory of technological innovation (introduced in his 1997 book The Innovator's Dilemma) to gain insight into the results of 27 semistructured interviews with auditors and audit technical specialists. Consistent with Christensen's sustaining and efficiency strategic responses, our findings suggest that, at this time, technology is primarily being used by the audit industry to strengthen the audit industry's ability to serve mainstream clients by providing a “higher-quality” and lower-cost audit to replace menial tasks that historically have been done by junior auditors. We find that industry-disruptive new market entry is currently prevented by regulatory and professional barriers; however, strategic disruption to the audit industry appears inevitable as technology is already being used in audits of nonregulated markets by new entrants. Strategically, the audit industry will survive in its current recognizable form only if self-disruption occurs before the regulatory barriers are dropped, which requires significant upskilling in the industry to ensure that firms have the skills to be first movers whenever technological innovations are introduced.

Abstract Image

审计行业的技术创新探索:颠覆理论在受监管行业的应用*
整个审计行业的技术创新日益增多。虽然之前的研究已经探讨了具体的技术创新如何影响审计产品和审计的盈利能力,但技术创新对审计行业的战略影响尚未得到研究。为了解决这个问题,我们采用了克里斯坦森开创性的技术创新理论(在其 1997 年出版的《创新者的窘境》一书中提出),对审计师和审计技术专家进行了 27 次半结构式访谈,并对访谈结果进行了深入分析。与克里斯坦森的维持和效率战略对策相一致,我们的研究结果表明,目前审计行业主要是利用技术来加强审计行业服务主流客户的能力,提供 "更高质量 "和更低成本的审计,以取代历来由初级审计师完成的琐碎工作。我们发现,目前监管和专业壁垒阻碍了具有行业破坏性的新市场进入;然而,由于新进入者已在非监管市场的审计中使用技术,审计行业的战略破坏似乎不可避免。从战略上讲,审计行业只有在监管壁垒取消之前发生自我颠覆,才能以目前可识别的形式生存下去,这就需要对行业进行大量的技能培训,以确保每当引入技术创新时,各公司都具备成为先行者的技能。
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来源期刊
Accounting Perspectives
Accounting Perspectives BUSINESS, FINANCE-
CiteScore
2.60
自引率
0.00%
发文量
30
期刊介绍: Accounting Perspectives provides a forum for peer-reviewed applied research, analysis, synthesis and commentary on issues of interest to academics, practitioners, financial analysts, financial executives, regulators, accounting policy makers and accounting students. Articles are sought from academics and practitioners that address relevant issues in any and all areas of accounting and related fields, including financial accounting and reporting, auditing and other assurance services, management accounting and performance measurement, information systems and related technologies, tax policy and practice, professional ethics, accounting education, and related topics. Without limiting the generality of the foregoing.
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