Audit budgets being squeezed?

2009-09-01

How CAATs can relieve the cost pressures facing your Internal Audit department

In the current climate, Internal Audit departments are being asked to do more, for less – to provide ever more comfort to the business but with tighter budgets and fewer resources.

DataConsulting’s accountants and auditors have many years of experience in enabling teams to increase audit effectiveness and efficiency – whilst reducing costs – by using data analysis techniques.

CAATs co-sourcing

There is an ever-growing need for Internal Audit departments to make more use of CAATs (Computer Assisted Audit Techniques). CAATs enable auditors to dig deeper and unearth findings not found through traditional auditing techniques – and to do so more efficiently than before.

By becoming your CAATs co-sourcing partner, DataConsulting can supply CAATs resources at key points in your audits. Having all worked for one or more of the big-four firms, our team are experienced in scoping, conducting and reporting back on CAATs engagements.

Continuous auditing

Although continuous auditing should be owned by the business rather than Internal Audit, it often falls to IA to kick-off and subsequently manage – and then any appetite in the business is usually dampened by the cost and complexity.

DataConsulting are experienced in creating low-cost, light-weight continuous auditing platforms for clients. Implementing continuous auditing to keep tabs on the routine business processes and controls, allows IA to focus on the more risky areas of the business – and so use scarce resources more effectively.

Spreadsheet assurance

The scale of business-critical, uncontrolled spreadsheets and databases within organisations can often significantly increase the cost of audits – or even reduce their effectiveness if the spreadsheets are simply ignored.

DataConsulting’s experts can quickly identify those spreadsheets and databases that matter, analyse them, and bring them into the control environment – reducing both audit costs and audit risk.

Tuesday, September 1, 2009 In: Hot Topics Comments (None)

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