Audit teams continue to be tasked with doing more work with fewer resources. Broken calculations and human error are common elements that take away from accuracy and completeness. Managing larger and larger amounts of data, often with more complexity than ever before, can be time-consuming, overwhelming, and unnerving.
Audit teams come in many shapes and sizes. Some have massive technical arms that support them and provide tools for analytics and automation. Many, however, are resource-strapped groups with high expectations and limited funding. Automation tools that help perform faster audits could be a lifeline that enables your team to exceed expectations.
Most audit firms have embraced automation technologies to add value to clients and stay ahead of a highly competitive landscape.
In an audit, data will continue to pour in, and it will be up to auditors to analyze it for risks. Auditors who have strong skills in data, analytics, reporting, and automation will be extremely valuable. Teams who embrace automation and digital transformation will be the benchmark for auditing teams globally.
The webinar above shows demonstrations of Alteryx and UiPath, focusing on how these tools can overcome challenges with Internal Audit. We will offer solutions to stem frustration around elements such as full population audits, continuous audits, fraud, duplication, and risk detection. We dive into how to quickly organize and access large amounts of data and control YOUR bots to follow an internal audit process EXACTLY, every single time. With Alteryx and UiPath, internal auditors benefit from immediate results in the form of time savings and elevated accuracy.
Solution:
With Alteryx AND UiPath, Internal Auditors can:
- Ensure accuracy and completeness of your numbers
- Store all the calculations that are being applied
- Understand where data is coming from and going to
- Quickly rerun processes if changes are made or to enable continuous audit processes
- Know that their bots log every single step that they perform, better than humans
- Get insight into what the bots are doing, and validate all the moving parts
- Rest assured that when scenarios arise that do not fit the four corners of the bot’s process, it will flag you for manual intervention
- Save a ton of time!