Setting the stage: Audit readiness & resource allocation
A smart onboarding process lays the groundwork for the entire engagement. That’s where AI-driven risk assessment tools step in.
When you open a new engagement, you can start with a series of tailoring questions that shape the entire audit plan. For example:
- Is this a first-year or recurring engagement?
- Which industry-specific considerations apply?
- What type of plan or approach should you take (substantive or combined)?
- Which assertions are relevant for different types of risk areas?
Your answers determine which forms, letters, and procedures appear automatically in your workflow. First-year clients might trigger an engagement letter specific to new audits, while a second-year audit could skip redundant steps and bring forward prior-year documentation for reference.
Over time, firms can turn these tailored engagements into templates, reducing setup work for future clients in the same industry. And when AI already has engagement and transaction data, it can go further by suggesting relevant assertions, highlighting high-risk areas, and proposing an optimal testing approach before fieldwork even begins.
Smarter scheduling and resource allocation
Risk assessment is only part of the equation. You also need the right people in the right place, without burning hours on manual scheduling.
AI-enabled calendar tools analyze staff availability, skill sets, and current workloads to suggest optimal assignments. If one team member is overbooked, lacks the necessary expertise, or hasn’t connected with a client in weeks, the system can flag the issue and propose a swap.
Some platforms even measure schedule optimization goals, such as aiming for 90% efficiency, so you can see at a glance which engagements need better resource alignment. The result? Less time spent shuffling calendars and more time delivering value to clients.
