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What are analytical procedures and their benefits?

Abrigo

Analytical procedures are beginning to become more prevalent in the audit world. According to the AICPA, analytical procedures consist of reviewing financial information by studying plausible relationships between data and evaluating it for consistency. They can: • Improve the quality of the analytics. By Jackie McLaughlin, CPA.

Analytics 150
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The most useful (and rarely used) types of data analytics

Abrigo

Data analytics are gaining momentum as they are increasingly being used during the audit process. As auditors know, data analytics are required during both the beginning and the end of an audit. However, analytics can also be employed efficiently and effectively as substantive procedures. type questions. type questions.

Analytics 150
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How to increase efficiency and minimize risk in the audit process using analytics

Abrigo

Since leaving public accounting, she has been an internal auditor, a tax preparer and a controller. Analytics can more effectively focus firm resources. Analytics can more effectively focus firm resources. What analytics cannot do is enhance professional skepticism for the auditor.

Analytics 150
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3 Ways CPAs can leverage technology for meaningful practice growth

Abrigo

Don’t sweat the small stuff – automate it Technology that incorporates automation, artificial intelligence and business analytics can help accountants provide services efficiently and better utilize staff so that if they want to provide new service offerings differentiating their firms from competitors’, they will have the ability to do so.

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Accounting firm clients want these services from you

Abrigo

Identifying service opportunities is especially important for firms looking to transition from a focus on compliance services , such as tax and audit, to value-added advisory services that might generate higher margins. After all, accountants are commonly known as providing services such as tax preparation and audits.

Taxes 150
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Performing business valuations with optimal efficiency

Abrigo

This can save time and ensure accountability across multiple offices or teams, allowing more time and energy for applying professional judgment and analytical skills that generate unique insights about the subject company or industry.

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