Technology, Big Data, and The Evolution of Forensic Accounting
In the era of web 3.0, technological developments are becoming increasingly rapid. One of the phenomena in web 3.0 is the development of big data and digitization. This also applies to accounting and financial reporting. Financial reporting no longer uses a manual system that takes a long process but uses an automated computerized system. In line with the advancement of digital technology, fraud perpetrators are getting smarter in looking for loopholes so that traditional methods of fraud detection fail to prevent it. Today’s digital landscape opens the possibilities for organizations to better identify, investigate attacks, and forecast future ones. Artificial intelligence, machine learning, and statistical concepts of cognitive analytics with skilled forensic investigation help auditors get into the mind of fraudsters to better understand their motives and methods. With this approach, auditors can identify the root cause of incidents to improve their sensing capabilities and help pre...