Audit Independence: Maintaining Objectivity and Integrity for MNCs
Accounting is not just a game of numbers. It is also about maintaining precision, transparency, accuracy, and withholding integrity at the highest level. Some of the biggest accounting scandals are based on the foundation of conscious or unconscious audit issues. When there are key issues in the audit report of a business, this impacts them […]
Leveraging Outsourcing For Complex Audit Processes For MNCs
MNCs are not just about a big team, big office space, and many clients. As the size of businesses continues to grow, the complexities increase too. Corporates levied with the responsibility to handle the accounting and finance of many clients, from different industries also need to emphasize how each of these businesses should operate, addressing […]
Auditing In The Age Of AI – Need For Analytics For Risk Assessment And Detection
Accounting firms have been increasingly acknowledging and adapting AI in their daily pursuit. A report reveals: 54% of accountants believe that the value of a firm drops if they do not use AI 66% agree that AI can serve as a competitive advantage 46% agree that AI can help attract and retain more talent in […]
The outsourcing advantage – how external auditors add value to the audit process
If this is a new service for you or if you have been trying to streamline the process, here is some food for thought. Is auditing an integral part of your business? Is your audit process absolutely transparent? Will your team of auditors tell you the hard truth during tough times? If you have […]
The Role of Audit in Protecting Businesses from Fraud and Financial Misconduct
Fraud and financial misconduct is an issue that needs to addressed at all levels. But here is the problem. By the time, firm leaders or any other stakeholders become aware of the fraud, it is too late. Sometimes, the leaders themselves are involved. The accounting regulatory standards have loopholes and fraudsters do spot them. Let […]
AI and Auditing: What can AI do for Auditors?
In accounting and finance, auditing is a relatively complex subject. Not all accounting professionals can be auditors. Being an auditor requires specialized knowledge and the latest skills. Auditing comes with its fair share of surprising challenges. However, there is a solution – assisted decision-making. In the recent past, Artificial Intelligence in auditing has grown. Many […]