Shaping Auditing Automation: The Digital Empowerment of Accounting Practices

A guide by Penneo

How much have the challenges affecting the auditing profession evolved over the last decades?

New legislative requirements and technological innovations constantly impact both auditors’ activities and their clients’ businesses. To these historical issues are then added new ones, arising especially during the “busy season” – like the more significant number of clients to handle at the same time, multiple projects to take care of, longer work hours to meet compressed deadlines.

In the meantime, organizations from all sectors are focused on digital transformation, striving to optimize costs and time efficiency through technology investments. In such a context, where are the accounting firms on the digitization roadmap? Can they also take advantage of digital tools to improve their daily operations?

Is digital transformation an opportunity for auditors just as it is for everybody else?

The guide aims to answer these questions by providing statistical data and tangible examples of the benefits auditors can gain from digitizing and automating their workflows. You’ll get insights about:

• Industry trends and drivers (the need for process optimization, political and legislative endorsement, better CSR performance to meet stakeholders’ expectations)

• How digital document management and automation address audit-process inefficiencies and speed-up daily activities

• What to look for in a digital solution to ensure a smooth transition from paper to digital processes.

All workflows, where possible, should exploit digital tools, and audit firms should not be seen as an exception, as theirs represents the perfect example of a business that relies heavily on written documentation.

Embracing the power of technology goes a long way in providing faster and safer operations, improving customer experience, and building overhead trust. Transparency, convenience, and compliance are additional benefits that come from the adoption of a cutting-edge digital solution.

Have a look at our guide, it might be the start of an entirely new outlook on success for your business.