How to Master Remote Auditing – Smarter Sampling
Audits involve performing various substantive tests, often via sampling accounts or balances.
In what can often feel like a dated approach, significant time can be wasted performing very basic tasks.
Checking breakdowns sum correctly and reconcile to trial balance accounts, calculating samples, selecting items and documenting work all take time and are susceptible to manual error.
Review time is also often increased, and the quality of work impaired, through inconsistent approaches and varied documentation by teams members.
Working remotely means audit teams can find themselves more reliant on clients providing digital support for samples. Selecting samples as early as possible provides greater flexibility to client staff, allowing them to distribute the effort across their team.
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