AutoAudit for Windows: A Complete System to increase the productivity of the Function of Audit

In order to satisfy the increasing needs of CAATT tools, Eniac has entered into a strategic alliance with Paisley Consulting.

Paisey Consulting is specialized in the Information Technology area, oriented to increase auditors' efficiency and productivity, offering applications which automate the processes of conducting audits. Paisley Consulting applications are used by more than 12000 users in more than 30 countries. Governmental institutions, manufacturing companies, insurance, finance, services, telecommunication, health and education institutions are, among others, Paisley Consulting customers.

AutoAudit is a comprehensive, fully integrated audit automation system. In addition to the workpapers and reporting functionality, AutoAudit has entity level and process level risk assessment, staff scheduling, resource planning, issue tracking, time reporting, expense reporting, quality assurance, department metrics, and the flexibility of an ad hoc reporting module. All of these modules are fully integrated and data automatically flows from one module into the next. AutoAudit is designed to automate all of the primary processes which occur in an audit department.

Eniac offers an integral and effective solution providing the software and all the necessary services to guarantee the maximum use in a very short time; training, consulting and the most complete technical support.

AutoAudit Benefits:

Work efficiency: Increases between 20% and 45% the efficiency of risks assessment and annual planning.

Knowledge Base: Immediate access to past, present or planned audits documentation.

Flexibility: Allows auditors to work in remote places with local replicas and synchronize to centralized data base.

Standardization and Control: Guarantees the compliance of work methodologies in accordance to the organization best practices using the Standard Library (memos, programs, workpapers, questionnaires, evaluations, final report and others).

Adaptability: Provides an "ad hoc" tool for reports, tables and graphics with the formats required by the Audit Committee or the General Auditor.

Communication: Improves communication with clients in relation to discoveries tracking and action plans.

Cost Reduction and Best use of the Most Valuable Resource (the Auditor): Reduction of costs, documentation and papers review times, investing more time in the audit per se.

Security and Confidentiality: AutoAudit allows the creation of the user's profile according to his role in the audit process in order to control the access to documents and the information integrity. AutoAudit guarantees confidentiality of the information encrypting data using proprietary algorithms.

Easy to use: AutoAudit can be learned and implemented in less than a week. Eniac provides all the necessary assistance.

Integration with ACL: It is possible to integrate data analysis processes with ACL in AutoAudit workpapers.


AudoAudit Functionality:

• AutoAudit offers an integrated risk assessment module with the option of following either a horizontal methodology or a vertical methodology, or allowing the user to utilize both methodologies. The risk assessment can help to determine what audits to perform in the upcoming year.
  
• Audit planning and assignment of auditors to the fieldwork.
  
• AutoAudit provides maximum flexibility for indexing and numbering audit programs and workpapers. The system allows auditors to re-index the workpapers at any time. Workpapers can be indexed in the view to reflect the order of the steps in the audit program.
  
• AutoAudit contains a standard library for storing audit programs, workpapers and memo formats, and standard issues. The library provides a tremendous amount of flexibility and time savings in the creation of workpapers.
  
• Define the user profiles to create, modify, delete, review or approve specific documents according to his role within the audit process (Manager, in charge, Staff..
  
• Final audit automatic report, with information of all issues registered during the fieldwork.
  
• Issues monitoring for all audits by status, date, risk level, etc.
  
• Time and expense reporting.
  
• Post Audit Surveys and auditors evaluations.
  
• Standard reports availability and "ad-hoc" reports creation.
  
• Historical registry of documents updating, revisions and approvals.
  
• AutoAudit risk assessment forms are entirely customizable by the client. Users can define their risks, set up their risk assessment forms and adapt to any audit structure (COSO, COCO, CSA).
  
• AutoAudit encrypts data using a proprietary algorithm. The system encrypts the field level data before storing it in the secured database.