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Denver Ahead of the Curve in Using Technology to Support Audits

  • 3 mths ago

DENVER – Denver is a clear leader in innovative audit technology and techniques, according to a new special analysis from Denver Auditor Timothy M. O’Brien, CPA.

“Innovative audit analytics tools allow my office to identify potential issues sooner,” Auditor O’Brien said. “While a traditional audit could take months longer, audit analytics and continuous auditing can help speed up the work and support efforts to focus only on the highest risks.”

We surveyed more than 100 local government audit organizations across the country and we reviewed professional literature about audit analytics to assess the current state of audit analytics methods, tools, and applications to auditing. We hoped to identify areas where we could further enhance how we use analytics to improve our audit work.

“Audit analytics” means using automation and new technologies to assess entire datasets and thousands or pieces of information in less time and in more reliable ways than through traditional techniques like random sampling. Using audit analytics improves auditors’ confidence in their conclusions.

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