At a time of sharp focus on the audit market, and with greater capabilities offered by new technology, a group of firms came together in Chartered Accountants’ Hall last week to discuss improving audit quality and efficiency by looking at innovative ways of accessing and analysing data.
The group, drawn from Big 4, Group A and APA firms, considered the issues of gathering both structured and unstructured data, and whether it may be possible to collaborate to ease access to data for the benefit of the whole market – businesses, accounting firms and service providers. One possible outcome from the initiative is a shared common data model, which would provide easier access to, and analysis and portability of, underlying data. Attendees had a productive meeting and agreed to continue discussions.
The workshop followed on from an earlier meeting with firms working specifically in the mid-market (and with a number of joint attendees), that considered a variety of issues with audit tech, including data extraction, client T&Cs and the skills agenda.
If you are interested in learning more, or participating in either forum, please mail me at firstname.lastname@example.org