What technologies are having the biggest impact on auditing? With advanced technologies growing exponentially, firms should embrace them quickly. Doing so will produce more efficient, higher-quality audits that are cost-effective for clients and also improve peer review. Consider that:1. Robotic process automation mimics a human's interaction with software, performing high-volume, repeatable tasks within seconds.2. Automation lets all auditors perform advanced analytics - whether they know code or not.3. Leveraging Al and machine learning increases efficiency by significantly reducing human error and enables studying historical data to cut costs.How are you helping auditors leverage technology?Our audit solutions use data to drive audits and Al to help perform them. Some examples include:1.TeamMate Analytics considers 100% population testing, letting auditors select tests, configure and chain them together for an automated workflow.2. Proactive diagnostics in CCH Axcess Knowledge Coach indicate recommended answers or potential errors, creating effective audits from the start. And automatic prompts alert auditors when to consider further document analysis of identified risks using Teammate Analytics.3. Through machine learning, CCH Axcess Financial Prep intelligently groups tax codes, automatically creates business tax reports, and instantly produces tax balances for preparing returns.
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