Innovation delivers audit quality and future changes

Have audits changed forever?

Join our webcast on June 2 to hear how we are auditing today and going forward.

How technology helps deliver excellence during COVID-19

The restrictions that resulted from COVID-19 have changed the way that auditors work, but they have not changed the standards that the audit must meet.

In a recent Wall Street Journal article, Grant Thornton Partner-in-Charge of Audit Methodology and Standards Jim Burton said, “People might think that, in this environment, there’ll be some pressure to overlook some of those requirements or maybe accommodate a lesser quality of evidence. We’ve got no basis to do that.”

At Grant Thornton, auditors are applying technology and innovation to ensure that they deliver consistent quality and caring attention, helping clients to navigate today’s uncertainties. To discuss how auditors have recently adapted, Grant Thornton Chief Transformation Officer and National Managing Partner for Transformation Jamie Fowler interviewed Grant Thornton National Managing Partner for Audit Services Jeff Burgess.

Question 1: How has COVID-19 made a difference to the audit practice?

Question 2: How are auditors addressing the issues they didn’t anticipate?

Question 3: How will these new approaches change the way we go about audits in the future?

We have all shifted how we work in response to COVID-19 and future adaptations will continue as we move toward restoring business to a new normal. Successful execution of quality audits in the current environment is driven by today’s innovations, which are uncovering new opportunities, insights and efficiencies. These ongoing changes are helping to shape the audit of the future.

To hear more about how innovation is driving effective and quality audits remotely in response to COVID-19, register for our upcoming webcast or reach out to our contacts below.

Webcast: Have audits changed forever?

This last year has seen unprecedented change in the audit profession, and recent events have accelerated this change. In the last few months, many of our clients and engagement teams had the opportunity to embrace some of our innovations for the first time, and they aren’t looking back. While we can’t wait to go from FaceTime to face-to-face, the automations and analytics we have deployed are here to stay.