New Future of Audit Insights Report from the PICPA Finds 90% of Auditors Agree Technology Will Transform the Profession Within 5 Years

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PHILADELPHIA--(BUSINESS WIRE)--Sep 23, 2025--

Pennsylvania Institute of Certified Public Accountants (PICPA) today released its newest Insights report: The Future of the Audit: Building Relevance and Sustaining Quality, offering an in-depth look at how audit firms are thinking about the future of audit and steps firms can take to ensure these services remain relevant to meet rising demands for trust, transparency, and real-time assurance.

Drawing on interviews with national audit leaders and a survey of 115 auditors across public accounting, corporate finance, government, and education. Survey data was paired with insights from national experts including PCAOB board member Christina Ho, PwC US Assurance Leader Deanna Byrne, global technology leader Kimberly Ellison-Taylor, audit committee chair Jerry Maginnis, and PICPA VP of Professional & Technical Standards Allison Henry.

“Traditional audit methods are no longer enough to safeguard trust in the capital markets,” said Allison Henry, VP of Professional and Technical Standards at the PICPA. “This report delivers practical guidance for firms to embrace innovation, strengthen regulatory engagement, and develop the digitally skilled workforce needed to meet tomorrow’s assurance demands.”

Key Findings from the Report

• Tech-driven audits: 90% of auditors say technology has improved audit quality over the previous five years; 56% expect technology will have a transformational impact on audit work in the next five years.

• Beyond the balance sheet: 54% see assurance on ESG, AI, and other nonfinancial metrics as “highly important,” reflecting growing investor demand for auditors to deliver assurance on a wider breadth of metrics beyond financials.

• New risks, new tools: Cloud adoption and AI raise cybersecurity stakes. The report calls for “regulatory sandboxes” to help firms—especially small and midsize—adopt safely.

• Talent crunch & training: Retention, not pipeline, is the top workforce concern for auditors. Firms must blend flexible work models, upskilling, and diversity to attract digitally fluent auditors.

The report also outlines immediate steps firms can take, including strategic investment in scalable technology, targeted upskilling and partnerships with universities, and proactive engagement with regulators like the PCAOB and SEC to shape evolving standards. Over the long term, firms are encouraged to transition from traditional, point-in-time audits toward continuous, real-time assurance, leveraging the benefits of technology to provide ongoing insights and safeguard market confidence.

“Technology is rapidly redefining the audit process, and auditors, clients and regulators must align on what the future looks like,” said PICPA’s CEO Jennifer Cryder, CPA, MBA. “Firms that take deliberate, forward-looking action today will strengthen their relevance, enhance audit quality, and protect public trust for years to come.”

The full report, The Future of the Audit: Building Relevance and Sustaining Quality, is available for download at www.picpa.org/insights.

About the Pennsylvania Institute of Certified Public Accountants (PICPA)

The Pennsylvania Institute of Certified Public Accountants (PICPA) is a premier statewide association of nearly 18,000 members working in public accounting, industry, government, and education. Founded in 1897, the PICPA is the second-oldest state CPA organization in the United States.

To learn more about the PICPA, visit www.picpa.org.

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KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: FINANCE CONSULTING BANKING ACCOUNTING PROFESSIONAL SERVICES

SOURCE: Pennsylvania Institute of Certified Public Accountants

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PUB: 09/23/2025 09:00 AM/DISC: 09/23/2025 08:59 AM

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