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Audit technology is a general term used for computer-aided audit techniques (CAATs) used by accounting firms to enhance an engagement. These techniques improve the efficiency and effectiveness of audit findings by allowing auditors to analyze much larger sets of data, sometimes using entire populations of data, rather than taking a sample.
Many audit-specific routines are used such as sampling. Provides documentation of each test performed in the software that can be used as documentation in the auditor’s work papers. Audit specialized software may perform the following functions: Data queries. Data stratification. Sample extractions. Missing sequence identification.
The concept and initial version of SekChek was brought to Deloitte South Africa by Gordon Docherty and Jose Masson, who collaborated on the product design and deliverables with Chris Little CISA, CISSP from Deloitte's Computer Assurance Services Division in Sandton, South Africa. The first version analysed the control parameters for AS/400 systems.
Currently, Deloitte and PricewaterhouseCoopers (PWC) are both using machine learning tools within their companies to aid in financial auditing. Deloitte uses a software called Argus, which reads and scans documents to identify key contract terms and other outliers within the documents.
Deloitte Touche Tohmatsu Limited (/ d ə ˈ l ɔɪ t ˈ t uː ʃ t oʊ ˈ m ɑː t s uː / də-LOYT TOOSH toh-MAHT-soo), commonly referred to as Deloitte, is a multinational professional services network based in London, England.
About 330 staff, or 4%, were cut from its US audit practice; 5% cut across advisory, tax, and back-office functions; and 2% from its advisory workforce in 2023, according to Accountancy Age.
Workiva's reporting software was created for executives that want to integrate data from different systems, and desire software that updates automatically. [40] The majority of Fortune 500 companies use Workiva’s software. [23] European companies use Wdesk to comply with European Securities and Markets Authority’s reporting mandates. [17]
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