A new wave of pervasive digitalisation is redefining the role of digital transformation in business. Digitalisation is now moving beyond integrating tasks and people to connect with intelligent objects as well through innovations such as AI and the Internet of Things.
In an environment with increasingly complex and high-volume data, the use of technology and data analytics allows auditors to gain a deeper understanding of an entity to enhance the quality of an audit.
Using analytics improves audit efficiency by facilitating the performance of tedious tasks, freeing the auditor to focus on risk areas more effectively. The increasing use of analytics is also largely driven by stakeholders’ expectations. In many jurisdictions, including Singapore, auditors are expected to use technology, particularly data analytics, when performing audits.
The twin forces of technological innovation and sustainable financing are revolutionising financial services in Singapore, says Professor Xin (Simba), Chang, Professor of Finance at Nanyang Business School (NBS). But the industry could suffer from talent shortages if the skills sets of finance professionals do not keep up with these changes, says Professor Chang, who teaches on the NBS Executive MBA (EMBA), a programme designed to equip senior managers with cutting-edge business, technology, and leadership skills.
When the e-commerce platform Lazada launched in 2012, Southeast Asia’s online retail scene was still in its infancy. Fast forward a few years, Lazada has become the largest e-commerce platform in the region. However, the Singapore-based e-commerce firm is not the only one helping smaller retailers capture new markets. Mobile-centric marketplace Shopee is also providing stiff competition.
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