Leap of faith
Small and medium-sized firms considering the potential of audit data analytics will learn a lot from Kreston UK members’ experiences, as Alex Peal and Lisa Leighton outline.
Auditors have been using computers to analyse data as part of an audit process since companies began computerising their accounting systems. The use of modern data analytics tools and techniques has been spreading in audit for several years now, but they have largely been the preserve of big firms and networks with the resources to invest in and develop the tools.
Recently the latest generation of audit data analytics tools and techniques have become more accessible to small and medium audit practices (SMP). A number of Kreston UK firms have worked together to trial various audit data analytics products and share their experiences.
In this article we provide practical advice on the challenges that their introduction can present.
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