Deloitte’s audit technology is seamlessly integrated into all our operations, empowering us to conduct smarter audits. Our advanced technology excels in managing large datasets efficiently, predicting risks, and continually evolving. Our cloud-based audit platform was purpose-built to:
- integrate a wide array of technologies with our analytical capabilities,
- scale to meet the diverse needs of clients across all industries and sizes,
- easily adapt and evolve alongside advancements in technology.
Understanding Entrepreneurship
Technology is at the heart of our audit operations, enabling our teams to efficiently manage data, conduct complex analyses, and derive insights. Our technology not only processes large datasets, but also integrates and combines the tools used by our auditors:
- performing optical character recognition, natural language processing, and machine learning,
- analysing trends, regression, risks, and anomalies,
- automating processes and routine cognitive tasks,
- integrating and combining tools used by auditors,
- aggregating both structured and unstructured data,
- adapting seamlessly to varying scales, sizes, data quality standards, and industry requirements.
Transparency
Deloitte Connect serves as our intuitive cloud-based client portal, enhancing efficiency, quality, transparency, and trust among work teams throughout the process. It reduces client administrative burdens by:
- simplifying document and data sharing, enabling real-time viewing and scheduling,
- enhancing transparency, communication, accuracy, process improvements, and customisation to specific needs,
- facilitating communication of alerts, project statuses, and schedules.
Audit Implementation
Our experts make use of advanced tools to collect and manage large datasets efficiently and securely. Our key tools include:
- iCount: Enables auditors to collect data using mobile devices accurately and efficiently and upload it securely to an online database from external environments.
- Risk Matrix: Displays the correlation between accounts using both financial and non-financial indicators to gain a deeper understanding of the client’s business. This allows early identification of risk areas during the planning phase and ensures more precise “roll-forward” procedures during the final audit. The tool provides valuable insights such as unreliable monthly reporting, internal control deficiencies, gaps in oversight due to unclear key trends, etc. Working closely with clients, we apply this tool across various datasets (e.g., project evaluations, branch performance) to pinpoint companies or projects that deviate from norms that may warrant further attention.
- Alchemy: This application is designed to integrate complex client data into a database, support risk assessment using data analytics solutions, and automate audit procedures to enhance audit efficiency for SMEs. Alchemy benefits clients in several ways: it conducts detailed input testing to ensure data quality, helping clients cleanse their databases and rectify errors. Uploading the data significantly reduces the time the accounting staff needs to spend on the audit. There is no longer a need to ask basic questions, as the team is already aware of the necessary information. The audit team can directly identify turnovers and detailed entries in sub-ledgers and general ledgers.
