3579. Building Resilient Internal Audit Systems in Developing Economies: A Digital Twin–Driven Industry 5.0 Model for Detecting Financial Red Flags in SMMEs
Invited abstract in session Digital twins and Industry 5.0: Building Resilience, stream OR for Development.
Authors (first author is the speaker)
| 1. | Banothile Nontsikelelo DZANIBE
|
| Financial Accounting, Durban University of Technology | |
| 2. | Helper Zhou
|
| School of Accounting, Economics and Finance, University of KwaZulu Natal |
Abstract
This conceptual study proposes and tests a Digital Twin–driven Industry 5.0 framework to strengthen internal audit resilience in South African SMMEs. The model creates virtual simulations of financial processes to continuously analyse transactions and identify red flags indicating non-conformance. Testing utilised bank statements from 506 South African SMMEs to evaluate anomaly detection and internal control risks. Results demonstrate the framework significantly enhances real-time risk identification and audit efficiency, enabling proactive governance.
Keywords
- Accounting
- Artificial Intelligence
- Agent Systems
Status: accepted
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