Audit tech updates: Emburse, Engine B and Confirmation
Accountancy Age’s monthly round-up of audit tech news, including new partnerships, product launches and people moves
Emburse (May 26) has launched Emburse Audit, an AI-powered intelligent expense auditing solution. Emburse Audit combines smart technology with independent human verification to analyse expense transactions against pre-defined criteria. This allows the solution to assess the probability of compliance in line with an organisation’s reimbursement policies.
Engine B (June 24) is hosting a discussion on data ingestion for audit in partnership with Microsoft. Data Ingestion for Audit explores how auditors currently prepare data and how Engine B’s integration engine works alongside Microsoft BI.
Confirmation, part of Thomson Reuters (May 24) conducted a study on audit fines and found the Financial Reporting Council’s (FRC) fines on auditors rose by 180 percent to £25m in the past year, driven by a record £20.6m fine. Confirmation said the FRC was clearly using fines to improve audit quality, but that accountancy firms needed to use more technology to make the necessary steps forward.
“Technology is absolutely crucial when it comes to improving audit quality. The largest and/or more forward thinking firms are already making use of data analytics & automation across many areas of audit,” said Kyle Gibbons, managing director Europe at Confirmation.