How accountant can make use of drone technology to better their job

How accountant can make use of drone technology to better their job

By Ojeaburu, Friday, MSc, ACA. We have new technologies called drone technology and its impact on the account and audit profession. Accountants and auditor need to accept this new technology with two hands opened. There need to see how this new technology can enhance their job as non a threat to their job. Drone technology is an emerging technology that has come to stay with us. The earlier we embrace it and work with the better. Drone devices help to improve effectiveness and efficiency in the accounting and auditing profession. It was recorded that PwC completed its first stock count audit using drone technology. With the assistance of a drone, they were able to capture images at a coal reserve in South Wales and used them to measure the volume of the coal, based on the measurement of volume. Amazon and Google are already testing ways to deliver packages with drones. Facebook has started using drones to provide internet connections in remote locations. The former method for measuring the volume of a coal involved physically climbing over the coal reserve using a two-metre GPS tracking pole to measure data and then estimate volume.  By the time the two methods were compared, it was discovered that with the assistance of the drone the accuracy levels were increased to above 99% and the time is taken to reduce significantly. The traditional method took 4 hours to take the readings, whereas the introduction of a drone managed it in half an hour.  Some range of benefits derived from using the drone: time-efficiency, accuracy and benefit in health and safety as the need...
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