Yes, and if you’re fed up of doing a YoY “SALY” (same as last year) audit then automation may just be what you need to escape the routine! If your audit firm isn’t yet talking about moving to a full-web cloud audit app, chances are very likely that you will be very soon in the near future.
The general rule of thumb is that CPA firms tend to be slow to catch on and whether that’s true or not, is irrelevant because the fact is that cloud-based audit platforms with integrated methodologies exist and are available to help liberate auditors. Therefore it would be a shame not to cease the opportunity; because essentially, making cloud a key part of the audit will make auditors’ lives easier.
The enhanced quality offered by cloud based web-apps is ever growing and they are ready today, to be tested. Gest On Line’s web-app – DreamAudit for example, was launched in 2018 at the World Congress of Accounts in Sydney and since then has progressed considerably. Its intuitive interface and simple methodologies are ready to assist the profession with the audit of the future.
Such cloud-based technologies remove the repetitive form completion and completing tasks addressing non-essential risk factors.
The cloud liberates auditors and in no way will the assisted decision making replace the auditor’s judgement. The auditors will be more efficient because they will have more time to add value where it is most needed, on the more critical and risky areas of the audit, for example.
Leveraging these new cloud technologies will put your firm in the digital spotlight, these solutions are agile, adapting and evolving at the same speed as you and/or your client.
Cloud apps aren’t clunky and do not require a heavy update every year but rather benefit from monthly updates meaning that you can benefit from an interface that is user-friendly and evolves in real-time.