How Auditors Benefit from Access to Client Authorised Transactions

How Auditors Benefit from Access to Client Authorised Transactions

Auditors are under more pressure than ever to improve audit quality.

High-profile corporate failures and incoming regulatory changes (such as ISA 240 and ISA 315) are leading to audit firms seeking to reduce their risk by incorporating testing that goes beyond traditional sampling techniques.

This is being driven by technology that can pull in authorised transactional data and through analytics capabilities that identify anomalies and outliers. Over the longer term, there is the potential to move towards sampling 100% of all transactions.

Using technology to do this heavy lifting automates and streamlines processes and allows audit firms to complete work that exceeds human capabilities. It also reduces the time needed to complete jobs and provides a better, more light-touch experience for clients.

The Problems Today

Until recently, it’s been hard to access client data.

Read more

Circit-Vertical-Logo-Full-colour-RGB-1000px.png