For financial services providers, iterative processes and protracted timelines have been long-standing challenges. A recent survey suggests that nearly 82% of employees in an average finance back-office waste up to an entire business day every month on following up with different stakeholders, even as 52% grapple with a chronic lack of responsiveness. When you consider this in the context of financial audits, the problem becomes severe and high risk. Therefore, investing in technologies like robotic process automation (RPA) is such a top priority for the audit function. Deloitte finds that investing in automation development is among the top three items on the audit innovation agenda for the next few years.
In this case study M.Bhaskara Rao & Co., a leading CA firm in South India, talk about:
- 3 business needs facing CA Firms that call for Audit Automation
- The journey towards digital maturity and the benefits of Audit Automation
- Recommendations for successful Audit Automation implementation at a CA Firm