Digital Transformation: Belgrade hosted Second Annual Conference of FinExpertiza network

The members of international audit and consulting network FinExpertiza came to Belgrade on 20 - 21 September to hold Second International Network Conference Digital Transformation of the Financial Industry. Representatives from 12 countries as well as special guests from the Russian Embassy in Serbia, the Russian Trade Representation in Serbia, the Serbian Finance Ministry, the Serbian Audit Chamber and company Positive Technologies which is a leading solution developer for cyber security took part in the event.

What digital solutions will be in practice for financial officers? Experts from Russia, Serbia, Italy, Turkey, Uzbekistan, Georgia and Cyprus have answered the question.

Ilgiz Baymuratov, General Director of FinExpertiza network, said that the role of an auditor was changing dramatically. "At the time when financial professionals get an access to electronic mass data and uses automation solutions for advanced analytics, they can focus on functions that require a professional judgement. If a "traditional" audit looks backward, i.e. has to say what has happened, then a "digital" audit also implies forecasting, apply scenario analysis, predict market trends and offer an adaptation strategy. Digital means open the door to Root-Cause Analysis (RCA), sort of error correction to find causes of mistakes and errors.

Digital economics, cyber security and digital opportunities of the members-firms of FinExpertiza network, these are the key topics discussed in Belgrade.