Audit technology and digital

insights about our clients’ business or quality audits, because our teams will
areas for process improvements that have faster, better and more relevant Case study
we can share. research results.

EY Helix is at the heart of the EY audit and

we’ve embedded analytics-driven audit
Integrated with EY Canvas, EY Atlas
provides our teams with the most relevant
How I am
programs, giving us end–to-end coverage
of a business’s operating cycles.
up-to-date accounting, auditing and
industry information for a client’s audit.
providing
We have also developed an EY Atlas audit quality
By using these tools and analyzing Client Edition, which gives clients direct
larger populations of data, our auditors access to EY technical insights relating
can better understand the business, to accounting, financial reporting and
be better equipped to identify risk, ask regulatory filing, as well as thought
better questions about the audit findings leadership matters.
and, with their attitude of professional
skepticism, appropriately challenge the EY Atlas is a cloud-based solution that
outcome. Analytics can be applied from the provides us with a platform that may
scoping and planning of an audit through incorporate artificial intelligence and
to assessing risks and details testing. speech recognition capability, bringing
a leading research experience to our
We are expanding our analytics platform people and clients.
to include additional analytics such as
predictive analytics, as well as sector-based Emerging technologies
analytics and risk-based analytics — Audit quality lies at the heart of our
such as provision for warranties in the innovation strategy, which is why we are
automotive sector and impairment committed to innovating and integrating Nout van Es, Partner, Venlo,
analytics. We are also exploring how new technologies into our audit process. Netherlands
analytics can be used effectively with The emerging technologies that we are
unstructured data, such as social media, exploring include:
to find ways of assessing risk in all its EY has been making great strides
forms, not just the risks associated 1. Drones in providing us with tools for data
with financial information. Drones are unmanned aerial vehicles analytics. On an audit of a large
that are piloted remotely. We are retail client, we were looking for
EY Atlas assessing how they can be used to a more effective approach to
EY Atlas is our state-of-the-art global assist with inventory observations and auditing revenue, given the large
accounting and financial reporting how their findings can be integrated volume of individually small
research platform. Enabled for use with our mobile applications. Drones transactions that were occurring
on smartphones and tablets, this will analyze inventory quantities in at numerous retail locations.
tool provides our auditors with an real time by reading quick response
integrated, consistent, easy-to-use way (QR), barcode or rack labels and then Historically, our revenue testing
to find information while they are on feeding this information directly into consisted of performing detail
the move. It helps us to deliver high- EY Canvas. testing of individual transactions.
We are now using EY Helix to
perform a two–way correlation
on revenue — this is specifically
aimed at auditing most of the
How our audit tools improve quality
revenue transactions and the
corresponding cash. Cash is
EY Canvas __Facilitates early and active involvement of audit team members collected within one month, based
(our audit __Offers real-time validation checks on understanding of the business
platform) __Provides a platform for increased practice monitoring and better and the review of credit card
project management enabled by the Milestones functionality processor agreements.
EY Helix __Increases our ability to focus on areas of risk, rather than testing
(our analytics a smaller sample Using EY Helix, we weighed the
platform) __Enhances the ability to detect anomalies and unusual items evidence from the correlation
__Allows auditors to better understand clients’ operations and risks analysis with that from other
procedures and from related
EY Atlas __Improves the relevancy of search results and ability to filter
accounts, and concluded that
(our research __Improves access to desired content using enhanced browse
we had obtained persuasive
platform) functionality audit evidence over the
__Provides a single source of technical accounting and occurrence of revenue.
auditing content

Audit Quality: A Globally Sustainable Approach

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