Enabling the Data-Driven Audit with an Intelligent Data Management Platform
The Scenario – A Complex and Poorly Integrated Software Stack A midsized audit firm has implemented various audit software tools to capture data, analyze risk, and perform tests. Each Software-as-a-Service (SaaS) platform was selected to perform a specific function, with little consideration given to how data is organized and coded to flow between the applications. […]
Why Do Accounting Software Deployments Fail?
An important question for audit firms is – “What are the challenges when implementing technology and what’s needed for a successful deployment?” Our answer: intelligent data management. Audit firms have always invested in technology, and they are constantly looking for ways to improve their performance, lower costs, and enhance client engagements. Today’s AI tools and […]
How an Intelligent Data Management Platform Supports the Auditor of the Future
Without the help of an intelligent data management platform, audit firms of all sizes have embraced technology to improve performance and deliver higher-quality audits to clients. However, looking across the industry, it’s clear that many firms are struggling under the weight of complex and poorly integrated software stacks. With so many different tools and vendors […]
Keeping Data Secure – The Growing Threat of Cyber-Attacks Against the Audit Industry
Cyber-attacks are a persistent and growing threat to the accounting and auditing industry. Auditors have always taken steps to secure sensitive financial data. Today, auditors frequently use secure file-sharing software and other tools to send, receive, and access documents securely throughout a client engagement. However, the consequences of a successful data breach can be severe, […]
Faster and More Complete Revenue Testing With Vizschön™ A Use Case by Vigilant AI
The Scenario – Revenue Discrepancies Uncovered During Initial Analysis An accounting firm is conducting a year-end financial audit on a midsized commercial landscaping company. The company uses contractors to provide various landscaping services to customers. Services can depend on the time of year, location and size of the property, and customer needs. Contracts are typically […]
Vigilant AI and Golf Pro Chad Klein Drive for Accounting Scholarships
Vigilant AI is thrilled to announce our sponsorship of the long drive hole at the AICPA Foundation Classic golf tournament, set against the beautiful backdrop of the Snow Mountain golf course at the Paiute Golf Resort in Las Vegas on June 2, 2024. As proud sponsors of this event, we are committed to supporting the […]
Faster Forensic Auditing – How a Furniture Manufacturer Used Vigilant AI’s Vizschön Platform to Pinpoint Cost Overruns
The Scenario – A Newly Opened Mexican Manufacturing Facility An Asian furniture manufacturer supplies numerous retail stores across Asia, the UK, and North America. In response to US tariffs implemented by the Trump administration on Chinese imports, the company acquired and opened a manufacturing facility in Mexico. To meet demand and continue delivery of products […]
Improving Audit Quality – How Intelligent Data Management Reduces Audit Risk
Auditors play a critical role in ensuring the quality of financial reports. But as the volume and complexity of corporate financial data grows, traditional approaches to data management and review simply cannot keep up. To ensure audit quality, auditors are continuing to assess and evaluate artificial intelligence (AI) tools and platforms that will help improve […]
Attracting and Retaining Auditors – The Role of Technology During a Skills Shortage
Like many industries, the accounting and audit profession is dealing with a severe shortage of skilled workers that adversely affects employees and audit firms. We need to attract and ensure we are retaining auditors With fewer new graduates entering the job market, an aging workforce nearing retirement, and an exodus of accountants to other industries, […]
Faster and More Complete Financial Audits – Understanding the Data Capture Process
While the rise of big data has enabled companies to optimize business processes and strengthen strategic decision-making, the volume and complexity of data available to auditors can quickly become overwhelming. Audit teams begin by looking at accounting entries and financial statements to identify discrepancies, anomalies, and areas of risk for further review. Based on those […]
