Audit Automation

audit automation

CURRENT ENVIRONMENT

The control environment in today’s business is complex, risky and dynamic. The personal risk exposure of Audit Committee members, C-suite executives and Independent Directors are significantly higher than before, necessitating increased expectations on the quality of audit delivered by auditors.

Today’s auditor holds diverse responsibilities – related to risk assessments, fraud risk exposures, data quality, quality of audit approach and tests performed. COSO 2013 has laid significant emphasis on the non-financial and external reporting aspects and has embraced the extended enterprise concept. It has also provided significant emphasis on information technology.

The conventional methods of audit, which involved inspection of sample data with relatively higher level of manual intervention, are now under inspection. With a changing corporate landscape and control environment, a data driven audit approach is an imperative. Auditors now need to look into structured and unstructured data sources both within and outside the entity to define their audit universe and plan accordingly.

Our Audit Automation Approach

Auditor in the Loop Automation Ecosystem

Audit Automation Process

At alliantTalent Advisory, we help CPA firms to automate their audit execution process by :

Intuitive & Intelligent Automation: Web-based AI-enabled Intelligent RPA platform
Intelligent Document Processing: Ability to automate nonstandard documents
Human-Bot Orchestration: Human in the loop for interaction with Bots

Value Derived with Audit Automation

Improved governance

Increased risk intelligence

Optimal insights

Accelerated and comprehensive auditing

Continuous testing and monitoring (near REal Time)

Predictive capabilities

Early detection of anomalies, deviations and risks

Timely mitigation of control failures

alliantTalent Advisory Solution

Discern, the potential risks by leveraging big data analytics

Link data to the control environment

Understand the data (internal and external to the audit entity), their structure, flow and how it impacts the control environment

Analyze the data and identify patterns to better understand the control environment and make audit outcomes timely and insightful

CONNECT WITH US​

Connect with us, and enhance your team’s efficiency and capabilities by choosing us as your external
advisory assistants. To know more, or talk to our professionals, write to us at
[email protected]