Advanced Audit Analytics for Digital Platforms

On August 21, 2023, in Las Vegas, Nevada, SafePaaS, the top provider of Policy-based Access Governance technology and a supporter of the GRC 2023 Conference, reveals its enhanced capabilities in audit analytics. These capabilities are aimed at helping internal, external, and IT auditors conduct audits of contemporary information systems that are both timely and accurate.

The auditing industry is currently experiencing a significant change as a result of technology advancements and the rise of the real-time economy. In order to stay up to date, auditors need to embrace digital tools and make use of cloud-based auditing technologies. It is crucial for auditors to improve their skills in order to be able to properly assess modern digital platforms. As businesses start to rely on new technologies like Cloud Computing, Artificial Intelligence, and Robotic Process Automation, auditors need to adapt by using more sophisticated methods of audit analysis. Thanks to advanced analytics, auditors now have the opportunity to improve the quality of their audits by accessing real-time data, which can be used to effectively test controls.

And with the suggested changes presented by the PCAOB in June of this year, auditors need sophisticated audit analytics to stay in line with technological advancements and the rising demands and scrutiny from the PCAOB. Auditors are anticipated to carefully analyze client data at a intricate and detailed level for control testing.

The sophisticated examination analysis offered by SafePaaS include strong information analysis characteristics that give internal, external, IT audit, and compliance teams the ability to boost efficiency, guarantee excellence, and thoroughly scrutinize digital businesses. This enables them to supply precise understandings and valuable suggestions to their clients.

In modern times, significant auditing companies and corporate auditors are employing SafePaaS analytics to guarantee efficient access and procedure regulations in order to evaluate the general vulnerability of financial inaccuracies, fraudulent activities, and cyber assaults. To provide an instance, auditors who utilize SafePaaS can pinpoint potential risks to security by comparing access requests that were approved in the provisioning systems with the actual access granted in the business applications. Additionally, they can identify breaches of regulations regarding data management, financial transparency, supply chain coordination, and human resources management systems.

According to Bob Enders, the Vice President of Audit Solutions at SafePaaS, audit analytics is extremely important in digital audits as it allows auditors to efficiently examine and gain information from massive amounts of data. SafePaaS, with its specialized platform, allows auditors to easily work together, providing a common space for oversight and transparency.

According to Jeff Hare, an expert from ERP Risk Advisors, a reputable consultancy firm specializing in risk management, we understand the challenges and stress faced by customers when auditors require them to prove the efficiency of their internal controls. Jeff emphasizes that SafePaaS is consistently improving its audit analytics capabilities in response to the increasing demand for the examination of ITGC and ITAC controls, following the issuance of guidelines by PCAOB to audit firms.

SafePaaS is a platform for managing access to information and ensuring security. It detects and stops any risks or incidents that could compromise the security of an organization's data. By using our platform, businesses can easily implement and expand their identity security solutions. We can work with any software or system that you already have in place. Our approach is focused on policies, so you don't need to worry about complicated role-based solutions.

Media Interaction: Emma Kelly