Increase the efficiency and effectiveness of operating controls. Provide reasonable assurance regarding the achievement of objectives which includes reliability of financial reporting and compliance with appropriate regulations and laws.

Channelise your audit to achieve the best insights on effectiveness on operations, reporting and compliance controls.

Our advance audit management tool helps in lowering the costs of compliance, maximises the success, reduces the risk and increases the productivity in the organisation. It integrates with the COSO framework to ensure operating effectiveness of controls and clearly define the critical path for financial reporting framework.

Identification Of Critical Processes

As per the COSO framework, it is very important for any organisation to identify the critical process in the financial reporting and operating framework. Our audit management software helps audit teams determine the key procedures and activities involved in a financial reporting framework and help perform documentation and testing around these key procedures and controls.

COSO Framework Reporting - AuditorsDesk
Process Walkthrough - AuditorsDesk

Process Walkthrough

Use AuditorsDesk walkthrough template to examine a process from initiation to completion to ensure every critical step is captured and key controls are identified during the process. Audit team can effectively make inquiries, inspect documents and make observations on a real time basis and determine whether procedures are performed as expected.

Test Of Control

Testing the effectiveness of a control can be a time consuming and lengthy process, with the use of digital audit tools you can pick samples based on any test of control methodology example: Observation, Inspection, Reperformance, Recalculation, and Confirmation and you can track all the insights and performance on a digital dashboard.

Test Of Control | AuditorsDesk
Sample Selection For Test Of Control | AuditorsDesk

Sample Selection For Test Of Control

With Audit management tools, audit sampling has become easier to execute and is further used for various tests of controls. Auditors use samples to test internal controls, accounting system adequacy and completeness of transactions and immediate review of validity of account balances. When designing samples for tests of controls the auditor ordinarily should plan to evaluate operating effectiveness in terms of deviations from prescribed controls.

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