Audit Efficiency - Get the Right Answer in Less Time

Objectives

The objective of this course is to explain how you can improve audit efficiency by aiming to get the right answer in less time and to provide tips on how you can implement the necessary changes.

This will enable delegates to return to their office and develop an action plan to improve audit efficiency, whilst maintaining or enhancing quality.

Key topics

• What we mean by getting it right and the requirements of ISA 220 on Quality Management of an audit
• How to develop your firm’s culture to ensure the entire team has a focus on getting it right first time
• How to apply the above principles to key areas of the audit:
  • Pre-audit preparation
  • Planning
  • Fieldwork
    • Controls testing
    • Substantive testing

• • Review and completion
  • Use of technology
    • Audit data analytics (ADA)
    • Robotic Process Automation
• Identifying quality issues through root cause analysis
• Developing an action plan to implement solutions

Who should attend

Please explain who the session is aimed at, within an accountancy practice context.