By: Accountability State Authority of Egypt- ASA

Financial statement disclosure is considered an important aspect of enhancing transparency and accountability, thus combating corruption. Financial audits conducted by Supreme Audit Institutions (SAIs) play an effective role in auditing these disclosures. In this article, we shall be tackling the disclosure audit of segments reports in the public sector, presenting a case study on these disclosures as an important aspect of enhancing transparency and accountability.

The financial statement audit, aims to provide confidence in financial statements for users’ decisions. Financial statement auditors give an independent opinion on whether financial statements are presented in accordance with the designated framework and accurately represent an entity’s financial position and activity outcomes. As organizations have developed and grown in size, so has the complexity of their operations, which have greatly influenced financial statement audit approaches. These developments do not erase the previous methods; instead, it builds upon them to make the audit process more efficient and effective.

In the light of the world’s developments in information technology, the term Artificial Intelligence (AI) has been traded in discussions often in recent times. It is considered a modern field that attracts the attention of all societies, which is constantly evolving, and it is expected to play a crucial role in humanity’s future. Utilizing AI systems and modern information technology is key for the future of data processing in auditing to complete the audit work efficiently and effectively.