Getting Rid of The Extra Paper
Auditing teams are often buried in evidence, with the notion that more information is better than less. At Brown Assurance Services, we have a different take on this. By having a well-thought through approach and a collective strategy, we eliminate excessive audit evidence by knowing what we are looking for, and collecting more pertinent, specific evidence.
Thinking Ahead
The end of financial year rush is overwhelming for auditors, no matter how experienced they may be. Even veteran CPA’s can be found at their desks late into the night, buried in a thick file sitting on top of another file. At Brown Assurance Services, we do our best to think ahead, encouraging our team and our clients to keep their most important business documents in an easily accessible computer system. When audit season arrives, a well organised database is already at our disposal. All the information is in one place, and all documents can be electronically signed for record keeping.
Benefits of a Paperless Audit
A paperless audit is when an auditor is able to access, ideally remotely, electronic records of a client in order to conduct an audit. It also implies that the auditor issues a final report in an electronic format, by e-mail or over a secure, password protected site. As the world battles a pandemic, and people try to get back to their lives as usual, the paperless audit may see much greater adoption. Here are some advantages of going paperless:
- Travel costs are eliminated as auditors can now work from any location.
- Much faster results. With analytics and electronic access given to auditors, the speed and accuracy with which they can finish a report is extremely significant. This also allows auditing businesses to scale up and take on more work.
- Better utilisation of data analysis software is made possible when clients begin to share data electronically. Data analytics allow auditors to focus much more on creative aspects of auditing rather than the mundane.
- Errors reduce tremendously as auditors do not have to manually re-enter all the information into their own systems. This is where a lot of human error can be avoided.
- Workflow advantages are instantly noticeable. An auditor has a bird’s eye view over all aspects of the audit. Different stages of the project become more apparent and resources can be directed where required based on this view.
Auditing Professionals with a Wide Range of Expertise
At Brown Assurance Services, we keep up with the cutting edge of auditing and accounting technology, but we never forget that people come first. Our team of audit professionals are focused, flexible and capable of any auditing requirement you have.
Call us today to learn more.