Digital audit transformation: Executing audits and performing fieldwork

Making fieldwork smoother

With the right AI-enabled tools, auditors can spend less time buried in paperwork and more time applying their expertise.

AI-enabled audit software can read through client documents and automatically extract the key information you need. It can match samples to supporting documentation, identify the key data points, and even create the documentation for you.

It's like having a senior associate who never gets tired and never misses details.

Exception spotting in real-time

You know that feeling when you're reviewing a batch of transactions and something just doesn't look right? AI systems can analyze and summarize documents in real-time, flagging exceptions and inconsistencies as they happen. No more wondering if you missed something. The system will tell you exactly what needs your attention.

Simplifying sample selection

Remember the days of randomly selecting samples and hoping they'd give you good coverage? AI can streamline the entire sample selection process, automatically request the right evidence, and track everything through PBC lists that actually make sense.

Smart reminders keep clients on track, and guided upload workflows ensure you get exactly what you need.

Auto-linking documents

Is there anything more tedious than manually copying links to PDF files and pasting them into your Excel document? Instead of manually connecting evidence to your workpapers, AI can auto-link documents to the relevant procedures and documentation. It's like having a filing system that organizes itself.

Your workpapers are complete, your audit trail is clear, and your review notes make sense.

Validation that works

With the right system, you can automate much of the validation process. For example, instead of having to manually request bank statements and wait for the client or bank to send them over, the client can provide you with access. The auditor can then download anything they need directly from the bank.

The technology that makes it happen

This fieldwork transformation leverages Wolters Kluwer tax and audit practice management software, integrating:

• CCH Axcess™ Engagement: Centralizes all fieldwork activities and provides comprehensive audit trail documentation.
• CCH Axcess™ Validate: Delivers automated validation and exception identification capabilities.
• TeamMate Document Linker: Automatically connects evidence to relevant workpapers and audit documentation.

Automated fieldwork means spending less time hunting for documents and more time analyzing what you find. You can work with confidence that you've got everything you need for a solid audit opinion.