Auvenir’s cloud solution integrates audit and assurance workflows by leveraging technology solutions

Digital transformation is in full swing. In all sectors, the use of modern and advanced technologies has allowed companies to evolve.

For CPAs, cloud-based technology and automation have already become the norm in areas such as tax, accounting, and accounting. Yet for many audit and assurance practices, digital transformation seems to have stalled.

“The listeners didn’t fundamentally change much [in terms of] how they acquire the data for the audit,” says CPA Jeff Gramlich, general manager, accounting at Validis, a cloud-based accounting data solutions company.

When it comes to audits, data is still often moved from paper spreadsheets to a spreadsheet file and then transferred to various audit workflow tools. Does this seem tedious to you? And familiar?

By using the cloud instead, auditors are beginning to realize the benefits of a faster, safer, and more streamlined process. “Using these types of tools,” says Gramlich, “is quickly becoming the new normal for audit firms ready to adapt and evolve.”

But beware: not all audit and assurance products are created equal.

“The biggest challenge we see is that many of the new audit products often don’t cover the full spectrum of audit services provided by the firm,” says Donny Shimamoto, CPA, managing director of the CPA consulting firm IntapriseTechKnowlogies (ITK). . “Thus, adoption of the cloud product would require auditors to switch between platforms – workbench management, paper management, research, testing, etc. – to do their work.”

“Most cloud applications have focused on transaction processing,” says Shimamoto, whose company helps customers with cloud migration strategies. “The next generation of cloud applications like future integrate knowledge management into the same application. For example, with Auvenir, you can manage your worksheets and also research audit programs to determine what work needs to be done. Auvenir’s pioneering cloud solution seamlessly integrates all audit and assurance workflows by leveraging technology solutions including DataShare from Validis and Confirmation from Thomson Reuters, saving time and effort. improve the quality of engagement. Unlike other products, Auvenir focuses on mitigating pain points for accounting firms and their clients, creating an improved experience for all parties involved. Then there’s today’s rapidly changing work environment, where “The Great Resignation” has called for organizations to allow employees to work remotely. This is where cloud-based platforms become essential for doing business. “A company that doesn’t really want to embrace technology,” Gramlich says, “will have a harder time retaining and acquiring good people and keeping up with the additional services a technology-focused company can offer.”

Investing in major technology upgrades for your business was once a daunting idea, conjuring up images of massive on-premises servers and hardware to store complex data sets and expensive powerful processors that require expensive maintenance. Migrating to the cloud is a walk in the park by comparison and solutions like Auvenir make the process easy and affordable to implement in small and medium-sized businesses that may not have been able to make it. in the past.

Whether you’re looking to strengthen your existing audit and assurance systems or take the first step forward, it’s time to leverage the cloud to lead your business into the future.

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