Case study: Efficient and secure document management in auditing

Introduction

In auditing, the protection of sensitive information and the efficient exchange of documents between the auditor, the audited company and external stakeholders such as creditors or debtors is crucial. IURIO offers the ideal solution to master these challenges.

This information is often exchanged inefficiently via unsecured channels such as email or physical transmission, which entails security risks and time delays. The requirements for structured and secure data exchange are high, especially when obtaining balance confirmations.

Task

1. Unstructured document exchange: The transmission of documents by companies to be audited is often unsystematic (e.g. email, USB stick, etc.), which makes it difficult for auditors to keep track of documents that have already been received and those that are still missing. Open questions on individual documents are difficult to identify and track.
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2. Inefficient balance confirmations: The process for obtaining balance confirmations from creditors and debtors is lengthy and is often handled by post. The time and effort involved in completing, signing and returning them leads to delays and a low response rate. In addition, separate communication with the audited companies is required.

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Solution

IURIO offers a comprehensive platform that efficiently solves all challenges relating to auditing processes:

1. Optimized & structured document transmission: With IURIO, documents can be transmitted in a protected data room in a structured and clear manner. The reviewers can create specific tasks for different documents using a task board and track the progress of these tasks. This provides an overview of the documents received and open questions can be addressed in a targeted manner.

2. Efficient management of balance confirmations: IURIO enables separate communication with creditors and debtors without informing the company being checked.
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3. Digital signature: Digital signatures speed up the entire account reconciliation process. Automatic reminders help to significantly increase the return rate of balance confirmations. After the audit, the final reports can be signed quickly and securely thanks to the integration of a qualified electronic signature. This speeds up the entire audit process considerably.

Conclusion

The implementation of IURIO in auditing offers a structured, secure and resource-efficient solution for the exchange of sensitive documents and - if necessary, separate - communication with various stakeholders. By digitizing the entire process, companies can save time and costs while ensuring the security of their data.

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