Harness the Power of Data Analytics

TeamMate™ Analytics offers easy data analytics

Have you read a CPA journal recently? If yes, you likely saw articles on the importance of data analytics in the audit workflow.  As a matter of fact, in late 2017, the AICPA published their new ‘Guide to Audit Data Analytics’. In case you don’t know, that guide encourages auditors to utilize technology-based audit data analytic tools. Additionally, per the AICPA, the use of audit data analytics can help firms:

  • First, enhance traditional audit procedures
  • Second, contribute to every phase of the audit
  • Third, offer a new way of visualizing and analyzing results

Expert Analyzer

To continue, now remains a perfect time to incorporate an analytics tool into your processes, even though calendar year-end audits are quickly approaching.  Notably, TeamMate Analytics is such a tool. The solution is robust yet easy to use in every stage of the audit workflow. In fact, it offers over 150+ tools accessible through Excel,  and is easy to learn regardless of skill level.

In addition, with the latest version of TeamMate Analytics, auditors become Expert Analyzers!  First, the Expert Analyzer feature packages up data analysis expertise. After, it can then be quickly, easily, and consistently applied on any audit.

Furthermore, Expert Analyzer delivers a revolutionary new level of flexibility, automating multi-step analysis with its intuitive graphical interface. Also, it includes all the features of Custom Modules, with additional options of:

  • One – using multiple data files
  • Two – joining two data files together
  • Three – grouping, then further analyzing the grouped data
  • Four – filtering, then further analyzing just the filtered data
  • Five – branching data to multiple independent flows

As a result, you can create easy-to-run workflows for almost any analysis task in your audit plan.  Moreover, the Import Wizard is now integrated into Expert Analyzer. Therefore, you can clean and import text files and PDFs with more than one million rows of data, and then analyze them using TeamMate Analytics.

Conclusion

In conclusion, it’s never too late to consider the use of audit data analytics in your workflow, wouldn’t you agree? Sooner or later you will need to learn more. So, start by signing-up for an online demo and see TeamMate Analytics’ Expert Analyzer firsthand. Then, hear how firms like Marks Paneth have harnessed the power of data analytics already by watching the Audit Talks – LIVE session recording of Become an Expert Analyzer.

You CAN become an expert analyzer using TeamMate Analytics … and there’s simply no time like the present!

AUTHOR

Kim Conaway

All stories by: Kim Conaway