Cloud Audit Suite: fully cloud-based end-to-end audit software

The pace of change in audit is fast. Today, auditors can deploy automated solutions – including the Confirmation platform – to boost the accuracy, reliability, and speed of processes. Not only do these solutions reduce time spent poring over invoices and receipts, but clients receive better service as a result. 

The pandemic, in particular, underlined the need for solutions that enable auditors to work remotely and flexibly, without sacrificing collaboration with colleagues and clients. In response, Confirmation has continued refining its suite of products to accommodate auditor needs as the sector evolves alongside new ways of working. 

With the launch of Cloud Audit Suite UK, Thomson Reuters introduced the end-to-end cloud product to the UK audit market. The solution offers complete integration between audit methodology and workflows, and timely updates to templates for changes in audit standards, making it considerably easier and faster for auditors to ensure compliance with the latest audit regulations. 

Cloud Audit Suite is ideal for small and medium-sized audit firms servicing limited companies and charities. It’s been a proven success in the US market, too, with more than 1,500 customers across a range of firms. 

Security without sacrifice 

With Cloud Audit Suite, staff members can work on the same files from multiple locations. This functionality has become a necessity in today’s audit market – not just because of the growth in remote and hybrid working, but also as many firms engage the services of overseas teams.  

Whatever the structure of your team and firm, security remains of paramount importance. Cloud Audit Suite ensures heightened security with two-factor authentication, mandated for all users to be able to access the software. 

Clients come first 

One recent addition to Cloud Audit Suite is the client communications feature. This new functionality allows auditors to send requests for audit evidence via the platform and, in turn, clients can upload evidence directly to the cloud, too. 

As a result, team members don’t have to leave Cloud Audit Suite to email clients and then return to the platform to input data. As a result, the potential for human error is minimised and critical information is stored in one central location. 

Rise of the auditor 

By eliminating timely manual tasks in this way, Cloud Audit Suite introduces new efficiencies into audit teams. Users of the platform have reported a 30% reduction in the time it takes to complete an audit.  

Such vital time savings are enabling auditors to focus on delivering a wider variety of services for clients. These value-add activities include analysis and forecasting and are helping auditors to transition from completing transactional tasks to fully occupying their roles as professional advisors. 

 No more slow servers 

 A common concern when it comes to cloud services is data ownership. Cloud Audit Suite ensures that firms and teams retain control over all data inputted via the platform.  

 Plus, Thomson Reuters manages data storage on its servers and ensures the performance of its products. By utilising Cloud Audit Suite, audit firms can cut down on server expenses and sidestep challenges associated with desktop applications. 

 Ongoing analysis of user behaviour enables Thomson Reuters to forecast server demand several months in advance, adjusting capacity well ahead of busy seasons. Crucially, this avoids auditors having to struggle with sluggish software and outages at the most critical times for the firm. 

 Investment and improvement 

 Thomson Reuters continues to provide innovative solutions to help businesses navigate the complex and evolving regulatory environment. The introduction of Cloud Audit Suite in the UK is a significant step forward in making auditing more efficient, accurate, and accessible. 

Cloud Audit Suite benefits from ongoing investment by Thomson Reuters, with development currently focusing on the incorporation of data analytics functionalities and generative artificial intelligence as part of the platform. The roadmap for the next iteration of Cloud Audit Suite will arrive in the coming months.