Automate low-hanging fruit first for an instant efficiency boost
You don’t need to use analytics throughout your audit in order to get started. In fact, it is better to start by automating the highly manual, routine tests your firm runs on every client. Every auditor will immediately enjoy the time savings, reinforcing their desire to continue learning and using your audit data analytics tool. Further, using analytics to automate routine tasks will allow auditors to learn to trust the tool. Your firm will also get the fastest return on investment through the instant efficiency gained.
"Start with the low-hanging fruit. Prove efficiencies. Prove that everything in the process is working before you take that deep dive. We started with journal entry testing. Once we saw the efficiency with that one test alone, we realized that we were on the right path.”
— Michael Holmstrom
Decision drivers for selecting an audit analytics tool
Download the eBook to get four additional tips for leveraging analytics, plus a chart of where to incorporate data analytics throughout the audit process. You’ll also gain insight into what considerations drove the selection process for audit analytics software at three firms.
