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  • Efficiency in Audit and Accounting – a Shift in Mindset?

    In his blog our CEO shares personal insights from a career in accounting and tech   Efficiency in audit and accounting isn’t as simple as it might seem. I’m not sure I have ever spoken to a firm who believes their accounting business is fully optimised in the way it operates. But why is improvement…

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    Audit Execution Tops Tips – Flexible Working

    Effective digital collaboration is a key driver to increasing the transparency between your team and client contacts. When deployed broadly across client portfolios, benefits expand beyond engagement efficiency and client experience. Such collaboration offers a genuine ability to unlock a more flexible way of providing services to clients and to your team performing their work….

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    Audit Execution Top Tips – Revenue Approach

    Traditional substantive audit methods often prove to be challenging when testing revenue. Sampling necessitates large testing volumes and substantive analytics is often impaired by an inability to define independent expectations and corroborate variances. To aid fraud consideration and design the approach over the non-fraud risk of material misstatement auditors should segment the revenue balance into…

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    Audit Execution Tops Tips – Better Data

    Gaining access to data from client accounting systems opens many opportunities to advance the effectiveness of audit execution. It also reduces your reliance on client contacts to provide reports or iteratively engage with your team to perform testing. It also allows you to better project manage across a portfolio of client engagements. You can deploy…

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    Audit Execution Tops Tips – Engagement Management

    Delivering profitable audit services relies upon your team, your client and many other factors. A key component is resource planning – having the right staff allocated to the right client at the right time. Resourcing constraints present in almost every accounting firm, particularly in busy season periods, places an increased reliance on timely delivery of…

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    Audit Execution Top Tips – Management Override of Controls

    Performing appropriate audit work to address the risk of management override of control and fraud has become increasingly complex. The expectations of regulators and external stakeholders has greatly increased as auditors are expected to perform robust procedures to address the risk of fraud. Journal entry testing forms a core part of any audit approach. With…

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    First Working Week of the Year

    In his blog our CEO shares personal insights from a career in accounting and tech   During my time in practice, the first working week of the year was always an interesting one. It was often a slow start, dusting off the cobwebs after a rare shutdown. Typically, we used it to complete the internal…

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    Plan Your Execution. Execute Your Plan.

    At the end of an audit engagement your client should be satisfied your audit has delivered the value they desired against the fee you charged. You and your team should be satisfied you have planned and executed a successful engagement. But how you can make the next audit even better. In busy periods, effective audit…

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    ICAEW partners with Inflo to support member firms adopt emerging technologies

    ICAEW has today (TUESDAY) announced a partnership with financial data analytics software company Inflo. The collaboration will give ICAEW member firms of all sizes access to Inflo’s AI-based technology platform, enabling them to use technology across their audit, tax and advisory services. Analytics dashboards and a range of other resources will be provided, to support…

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    ICAEW to incorporate emerging technologies into the ACA qualification

    Monday 2 September 2019 – ICAEW is evolving its ACA qualification as part of an initiative to incorporate emerging technologies into accountancy education. Recognising the impact of technology on future skills, ICAEW is collaborating with Inflo, a leading provider of financial data analytics software to the accounting profession, to develop the skills required by advanced…

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