Perform an Audit from your Desk
Deloitte & Touche and Intacct have announced the formation of an agreement to co-develop a web-based accounting service that will be available by subscription to accounting firms everywhere. The professional marriage pairs the accounting knowledge of Deloitte and Touche with the software engineering skills of Intacct, and the resulting product will be described as a "breakthrough for the accounting profession," according to David Thomas, CEO of Intacct.
The new service is expected to provide auditors with the ability to access client records remotely and should allow for collaboration of audit team members from different locations. Accountants will be able to integrate auditing tools with accounting and record-keeping capabilities with the result being a greater ability to understand test a client's financial information.
Could this process take the place of traditional in-your-face audits? And will the safeguards prevent a savvy computer operator at the client company from protecting access to certain records? Web-based auditing is certainly the first step to redefining the auditing process for the 21st century.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.