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Enhancing productivity: Data-driven solutions for audits
Manage episode 436899627 series 3558478
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Learn how technology, particularly AI and data-driven solutions, is revolutionizing the audit profession, leading to enhanced productivity. Host Anne-Marie Henson is joined by Paul Vetrone, Innovation and Change Director at BDO Canada, and Youssef Hounat, VP of Product at DataSnipper. Together they discuss the integration of innovative technologies in auditing, emphasizing the shift towards more efficient and higher-quality audits.
What you’ll hear in this episode:
[1:42] An introduction to DataSnipper as an intelligent audit platform.
[3:20] What do audit firms look for when it comes to audit technology?
[6:56] What a data-driven audit looks like.
[9:20] What is BDO Harmony and what does it do?
[12:00] The evolution of AI and its impact on some industries.
[15:46] AI in the audit process.
[23:22] The future of audit technology and data-driven tools.
Mentioned:
Quotes:
"When we're talking about a data-driven audit approach, we're really looking at the entire population, the entire data set, and being able to see trends and anomalies within that data to really identify what are those true outliers within that information."
"People want to make sure that their teams are actually working on value-added activities, and that's really why they come to DataSnipper, to take away the manual and repetitive work so that their teams can focus on what matters."
“Since the launch of ChatGPT in September 2022, there's been so many exciting new products, whether it be bookkeeping assistance that can completely do a reconciliation with absolutely no input from a human, all the way through to transaction risk scoring.”
“in terms of what we're seeing in the audit industry right now, I think AI is really kind of on the fringes. I think a lot of firms are really trying to figure out how to best utilize it at this point”
“What I can expect to see is much more integration with tools such as APT or with BDO Harmony to make sure that it's more of a seamless experience as people are working”
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