Auditing in the new normal: Connecting Technology to Audit Processes
Background and objectives
Background
Before Covid-19, the audit processes were already evolving with the emergence of new technology. SAIs were experimenting with new technologies and working with big data in order to conduct more efficient and higher quality audits. Like most SAIs, the Turkish Court of Audits (TCA) has accelerated the use of technology in audits through digital tools and data analysis applications over the past decade.
Until 2017, many of our practices were based on individual and personal skills. Auditors were, gathering raw data and transforming it into usable data, using different software, such as Audit Command Language (ACL) or Access for running analysis. However, in 2017, a special audit group was formed and TCA started building up mechanisms for virtual auditing. As part of our efforts for collecting and storing data and strengthening our technology to improve data analysis capabilities, TCA has implemented projects for centrally collecting and processing the data of audited institutions.
Various analysis scenarios including risk analysis to be applied to the accounting data of all audited public administrations were developed and a sampling module had been initiated. In addition, dramatic progress has been achieved on issues such as audit management, archiving, classification and statistical and mathematical analysis.
For computerization of audit functions, TCA uses a Business Intelligence system on which we developed our own template. It’s a centralized and web based system working on Oracle BIEE and the main functions are:
- Supporting management via the results of collective analysis within the risk assessment system.
- Saving the auditors time with analysis scenarios.
- Reducing the need of the auditor to receive data directly from the auditees.
- Presenting the data to the auditor ready for use.
- Enabling the auditor to work with big data.
And today, since the pandemic impacted our way of conducting audits, it is more important than ever to have a strong control mechanism and oversight. Due to travel restrictions, social distancing, and difficulties in on-site inspection and physical examination we need to be more flexible, in contrast with our traditional approach and respond quickly to the new conditions.
There is an urgent need to change in mainly 3 areas which are; (1) regulatory needs, (2) communication needs, and (3) right auditing tools and techniques needs. As auditing tools and techniques needs, we need the right technological infrastructure in place and adequate training.
As a fact, digital transformation is essential in these unusual times. However, the future of auditing profession is not limited to remote auditing practices. Rather, in the new normal, the aim will be transforming the entire process by using technology in order to enable a more efficient and a higher quality audit.
The remaining uncertainty about the continuity of the pandemic, makes it difficult to fully assess the potential impacts on auditing. This project will seek to provide cooperation, learn from good practices to develop similar approaches and combine forces to come over the challenges. We hope using new digital technologies will ease ongoing limitations and will bring some relief to the challenging situation.
Objective
The objective for this project group is to identify the current situation among SAIs in connecting technology to audit processes, sharing best practices, identifying the needs/gaps in this field and preparing a roadmap for the post-Covid 19 era.
Contact
emregulsen@sayistay.gov.tr
0090 312 295 35 44)Documentation
Filters
-
Project Closure
Go to detailProject closure of the EUROSAI Project Group on “Auditing in the new normal: Connecting Technology to Audit Processes”
-
-
ToR EUROSAI Project Group on “Auditing in the new normal: Connecting Technology to Audit Processes”
Go to detailToR EUROSAI Project Group on “Auditing in the new normal: Connecting Technology to Audit Processes”
