The modern audit, Part 2: Automation and data analytics
AUDIO | August 26, 2022
Authored by RSM US LLP
This podcast series is brought to you by RSM US LLP, the leading audit, tax and consulting firm serving the middle market. In this second episode of the three-part series, RSM’s national audit growth leader, Joe Mazza, sits down with RSM’s Sara Lord, chief auditor, and Scott Wilson, RSM’s national audit innovation leader, to discuss the growing role technology plays in the auditing process. The team also talks about how that technology affects modern auditors and may influence the future of the industry.
Automation and data analytics join forces to enhance audit quality.
In this second installment, Joe, Sara and Scott discuss how data analytics changes audit processes today as well as share examples of where it can enhance audit quality. The team also chats about the power of data analytics and its potential for distilling deeper insights.
The group explains—using real-world examples—how technology is transforming the audit process by:
- Streamlining the review process with automation—allowing time saved to be focused on developing new and high-value insights from a deeper analysis of the information being audited
- Improving the client’s end-to-end audit experience with strategically deployed technology
Leveraging the four types of data analytics—descriptive, diagnostic, predictive and prescriptive—to arrive at a more robust analysis of financial information
Be sure to listen to the rest of The modern audit series:
This article was written by Joseph Mazza, Sara Lord, Scott Wilson and originally appeared on 2022-08-26.
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