Data integrity is a key concern for all businesses. Businesses and auditors constantly make decisions based on the data held within the IT systems.
As systems become more complex and fundamental to the operation and direction of the business, the importance of the underlying data and the information it generates has never been greater. Organisations need to feel confident that the information can be relied upon to make decisions, highlight opportunities and identify risks. We help our clients get comfort over their data and gain assurance that it meets their business needs.
Risk Assurance Consulting (RAC) makes use of Computer-Assisted Audit Techniques (CAATs) which provide a means of accessing large amounts of data in a format that can provide transparency not attainable through other auditing procedures. The use of CAATs increases audit effectiveness, improves efficiency and decreases the audit risk.
With the use of a specialised software tool, our team can provide organisations with a unique and powerful combination of data access, analysis and integrated reporting. Using the specialised software tool our experts can access and compare enterprise data, flat files or relational databases, spreadsheets, report files, on PCs or servers, allowing the source data to remain intact for complete data quality and integrity.
The services include a full range of analytical tests from simple classifications to complex calculations across all areas of external audit including ISA 240 (review of Journal Entries). Refer below for examples of capabilities:
Partner, Advisory, In charge of Banking, PwC Cyprus