{"id":98361,"date":"2022-04-15t00:00:14","date_gmt":"2022-04-15t04:00:14","guid":{"rendered":"\/\/www.g005e.com\/?p=98361"},"modified":"2023-12-13t17:18:20","modified_gmt":"2023-12-13t22:18:20","slug":"how-auditors-can-improve-efficiency-and-the-budget","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/04\/15\/how-auditors-can-improve-efficiency-and-the-budget\/","title":{"rendered":"how auditors can improve efficiency and the budget"},"content":{"rendered":"<p><strong>innovation insights: five clicks in five minutes? sounds too good to be true &#8211; but automation can be simple <em>and<\/em> life-changing.<\/strong><\/p>\n<div style=\"padding: 56.25% 0 0 0; position: relative;\"><iframe style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%;\" title=\"innovation insights featuring colleen knuff and stefan davis, with donny shimamoto, center for accounting transformation\" src=\"https:\/\/player.vimeo.com\/video\/723885996?h=c75ad5cb78&amp;badge=0&amp;autopause=0&amp;player_id=0&amp;app_id=58479\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/div>\n<h6>^ stream the video | or <a class=\"external\" href=\"https:\/\/podcasts.apple.com\/us\/podcast\/cpa-trendlines-podcasts\/id1537866697\" target=\"_blank\" rel=\"noopener\">download the podcast<\/a><\/h6>\n<h6><iframe style=\"width: 100%; height: 208px;\" src=\"https:\/\/www.podomatic.com\/embed\/html5\/episode\/10324989?style=normal&amp;autoplay=false\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/h6>\n<p><em><strong>innovation insights<\/strong><br \/>\nwith donny shimamoto<br \/>\n卡塔尔世界杯常规比赛时间 presents a <a href=\"https:\/\/improvetheworld.net\">center for accounting transformation<\/a> production<\/em><\/p>\n<h6 style=\"padding-left: 40px;\"><span style=\"color: #808080;\"><em>(recorded february 2022)<\/em><\/span><\/h6>\n<p>with everyone going remote, it&#8217;s presenting auditors with new challenges. but technology can help, according to colleen knuff and stefan davis, in this interview with donny shimamoto.<\/p>\n<p>part of wolters kluwer, which was recently accepted to the asc x9 (american national standards institute or ansi), the industry setting body for financial institutions, knuff and davis explain not only how some solutions allow real-time collaboration versus working in silos, but also how data-driven audits increase capacity and allow more profitability while reducing risk and maintaining high peer-review standards.<\/p>\n<figure id=\"attachment_98636\" class=\"thumbnail wp-caption alignright\" style=\"width: 201px\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-98636 size-thumbnail\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/screen-shot-2022-06-16-at-1.09.46-pm-201x201.png\" alt=\"center for accounting transformation\" width=\"201\" height=\"201\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/screen-shot-2022-06-16-at-1.09.46-pm-201x201.png 201w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/screen-shot-2022-06-16-at-1.09.46-pm-100x100.png 100w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/screen-shot-2022-06-16-at-1.09.46-pm-24x24.png 24w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/screen-shot-2022-06-16-at-1.09.46-pm-48x48.png 48w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/screen-shot-2022-06-16-at-1.09.46-pm-96x96.png 96w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/screen-shot-2022-06-16-at-1.09.46-pm-150x150.png 150w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/screen-shot-2022-06-16-at-1.09.46-pm-300x300.png 300w\" sizes=\"auto, (max-width: 201px) 100vw, 201px\" \/><figcaption class=\"caption wp-caption-text\">innovation insights is a center for accounting transformation production, presented by 卡塔尔世界杯常规比赛时间.<\/figcaption><\/figure>\n<blockquote><p><strong>more:\u00a0 <\/strong><a href=\"\/\/www.g005e.com\/2022\/05\/05\/why-doing-nothing-is-not-an-option\/\">why doing nothing is not an option<\/a> |\u00a0<a href=\"\/\/www.g005e.com\/2022\/04\/19\/disruptors-blake-oliver-liz-farr\/\">blake oliver: why tax work yearns to be free<\/a>|\u00a0<a href=\"\/\/www.g005e.com\/2022\/04\/08\/watch-martin-bissett-urges-accountants-to-go-commercial\/\">private equity explodes in u.k.<\/a>\u00a0|\u00a0<a href=\"\/\/www.g005e.com\/2022\/04\/04\/stop-accepting-the-status-quo\/\">brannon poe: the status quo must go<\/a>\u00a0\u00a0| \u00a0<a href=\"\/\/www.g005e.com\/2022\/03\/28\/accounting-nerds-tap-into-your-secret-super-powers\/\">accounting nerds, unlock your super powers<\/a>\u00a0\u00a0|\u00a0<a href=\"\/\/www.g005e.com\/2022\/03\/19\/how-private-equity-changes-everything\/\">private equity vs. the cpa firm partnership<\/a>\u00a0<a href=\"\/\/www.g005e.com\/2022\/03\/13\/how-fintech-billions-is-re-making-the-accounting-business\/\">the fintech flood: accounting will never be the same<\/a>\u00a0\u00a0|\u00a0\u00a0<a href=\"\/\/www.g005e.com\/2022\/03\/09\/matt-wilkinson-think-small-to-think-big\/\">think small to think big with matt wilkinson<\/a>\u00a0|\u00a0<a href=\"\/\/www.g005e.com\/2022\/03\/07\/your-sales-tax-compliance-headaches-are-only-just-beginning\/\">your sales tax headaches are only just beginning<\/a>\u00a0|\u00a0<a href=\"\/\/www.g005e.com\/2022\/03\/06\/the-disruptors-corey-schmidt-on-re-inventing-your-firm\/\">when financial statements go extinct with corey schmidt<\/a>\u00a0\u00a0|\u00a0\u00a0<a href=\"\/\/www.g005e.com\/2022\/02\/14\/geraldine-carter-can-she-save-accountants-from-themselves\/\">can geraldine carter save accountants from themselves?<\/a>\u00a0|\u00a0<a href=\"\/\/www.g005e.com\/2022\/01\/27\/disruptors-tyler-anderson\/\">\u00a0re-inventing accounting with tyler anderson<\/a>\u00a0| \u00a0<a href=\"\/\/www.g005e.com\/2021\/11\/30\/turning-client-service-into-new-revenue\/\">turning client service into new revenue<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/08\/yellow_key_clip_art-e1375897299811-36p-hi-1-e1603911598474.jpg\" alt=\"goprocpa.com\" width=\"39\" height=\"16\" \/>\u00a0exclusively for pro members.\u00a0<a href=\"\/\/www.g005e.com\/wp-login.php?redirect_to=\/\/www.g005e.com\/2021\/02\/05\/22-predictions-for-2021\/\">log in here<\/a>\u00a0or\u00a0<a class=\"external\" href=\"http:\/\/goprocpa.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">2022世界杯足球排名 today<\/a>.<\/p><\/blockquote>\n<p>knuff and davis also discussed how recently-developed tools can assist with diagnostics and help auditors stay on track while delivering more compliant and dynamic audits, which could better assess risk. the multiple-year views and periodic annual views versus the year-end financials give better business insights and make it easier to spot various trends and identify business performance factors.<!--more--><\/p>\n<p><strong>more takeaways from knuff and davis:<\/strong><\/p>\n<ul>\n<li>realtime collaboration enables better remote work and enables the team to better collaborate rather than waiting for team members to \u201csync\u201d or \u201ccheck-in\u201d their work.<\/li>\n<li>using automated solutions can enable you to push work like audit confirmations \u201cdown\u201d to interns and admins, helping to alleviate part of the staffing issue that many firms are facing<\/li>\n<li>data driven audit or digital audit is about taking in data at the start of the audit and leveraging it throughout the rest of the audit\u2014increasing both the efficiency and effectiveness of the audit.<\/li>\n<li>audit tools can enable auditors to use both financial and non-financial data and structured and un-structured data to help quantify and inform risk assessment as well substantive testing; and also to analyze trends over multiple years.<\/li>\n<li>co-locating (centralizing) where the data that auditors are working with is stored can enable the use of emerging technologies like natural language process and semantic to analyze and identify issues from what was previously \u201cdark data\u201d. and this analysis can be done not just within one client, but across multiple clients.<\/li>\n<li>benchmarking can help to identify other places where a client has some anomalies that should be investigated.<\/li>\n<li>by focusing on the client experience and leveraging the tools, auditors can make the audit more value-added by providing clients more insights into their data.<\/li>\n<\/ul>\n<p><strong>about knuff and davis<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-98368\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/colleen-knuff-copy-201x201.jpg\" alt=\"\" width=\"201\" height=\"201\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/colleen-knuff-copy-201x201.jpg 201w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/colleen-knuff-copy-100x100.jpg 100w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/colleen-knuff-copy-24x24.jpg 24w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/colleen-knuff-copy-48x48.jpg 48w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/colleen-knuff-copy-96x96.jpg 96w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/colleen-knuff-copy-150x150.jpg 150w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/colleen-knuff-copy-300x300.jpg 300w\" sizes=\"auto, (max-width: 201px) 100vw, 201px\" \/><em>colleen knuff<\/em><\/strong><em>,\u00a0cpa, is vp product management of audit at wolters kluwer. she leads the strategic vision and voice of customer research for wolters kluwer&#8217;s audit product portfolio. <\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-98369 alignleft\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-201x201.jpg\" alt=\"\" width=\"201\" height=\"201\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-201x201.jpg 201w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-300x300.jpg 300w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-100x100.jpg 100w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-600x600.jpg 600w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-424x424.jpg 424w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-849x849.jpg 849w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-768x768.jpg 768w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-1536x1536.jpg 1536w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-24x24.jpg 24w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-48x48.jpg 48w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-96x96.jpg 96w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic-150x150.jpg 150w, \/\/www.g005e.com\/wp-content\/uploads\/2022\/06\/stefan-davis-pic.jpg 1600w\" sizes=\"auto, (max-width: 201px) 100vw, 201px\" \/><\/p>\n<p style=\"padding-left: 40px;\"><em>during her tenure, knuff has been responsible for driving product strategy and direction, including intimate involvement with new product ideas and development efforts and has been closely aligned with client and market needs.<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>prior to her promotion to vp, product management &#8211; audit, knuff served as sr. director, product management &#8211; teammate, software that helps improve the audit process.\u00a0<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em><strong>stefan davis<\/strong><\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>davis is one of the co-founders and now senior product owner for teammate analytics. he began his career as an auditor at kpmg. during nine years there, he also spent time in internal audit, forensics, transaction services and management consulting, working with a wide range of clients from small owner-managed businesses to ftse 100 companies. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>innovation insights: five clicks in five minutes? sounds too good to be true &#8211; but automation can be simple <em>and<\/em> life-changing.<\/strong><br \/>\n<em>with donny shimamoto<br \/>\n卡塔尔世界杯常规比赛时间 presents a <a href=\"https:\/\/improvetheworld.net\">center for accounting transformation<\/a> production<br \/>\n<\/em><\/p>\n","protected":false},"author":1382,"featured_media":99224,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[5,3120,2306,2764],"tags":[2394,3993,882],"class_list":["post-98361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-outlook","category-pro-member-exclusive","category-tech-and-fintech","category-video","tag-audit","tag-private-equity","tag-workflow"],"acf":[],"yoast_head":"<!-- this site is optimized with the yoast seo plugin 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