investing in the development and implementation of auditing technology can be costly. That’s why a comprehensive understanding of the magnitude of this process is necessary for decision makers.
Experts believe that the development and implementation of audit technology consumes many hours, money, and human resources. It also requires an extensive identification of goals and objectives that must be met. Furthermore, the implementation of audit tech is a complex task that requires constant back-and-forth communications between teams as well as an understanding of potential pitfalls that can emerge at any point during the development process.
This is especially applicable if the aim of the project is to improve data organization and efficiency of audits. For instance, one KPMG senior manager found that a company with multiple entities could save hundreds of hours in testing using automated tools to match and map disparate data sets.
Auditors could also conduct audits remotely and virtually. This technology improves efficiency, cuts down on travel costs and time spent in meetings with clients and permits auditors to use more sophisticated tools like analytics.
Samantha Bowling, CPA and CGMA at Upper Marlboro Garbelman Winslow CPAs in Maryland She says that incorporating new technologies into audits isn’t a process that can be completed in a matter of hours. Her firm implemented artificial Intelligence (AI) to identify high-risk transaction. This technology has allowed her to customize audit https://data-audit.net/2021/07/08/generated-post procedures to meet specific risks and remove the need for sampling, resulting in increased efficiency and better quality.
اضافه نمودن به دفترچه آشپزی من 
Comments are closed.