Hi Rich what does the role of Data Analytics Audit Enablement Leader involve? It sounds like a fascinating role.

Hi Dom,

Apologies for the delay in getting back to you I have been out of office and I am trying to catch up.

Thanks for your question, it is a great role and one I feel lucky to do. As a analytics audit enablement leader I am responsible for raising awareness and facilitating change within EY as it evolves it’s audit business.

Needless to say, the business world is evolving rapidly and data is one of the most important currencies going. At EY we are continually innovating the way we complete audits, so that it better meets the evolving demands of our customers. We’ve engaged with several of the world’s leading strategy and design firms to be part of our innovation journey, advancing our technology, analytics and the capabilities of our people.

Our aim is to build confidence in business and capital markets by providing high-quality audits that are relevant today and in the future. EY Helix, our global suite of data analytics tools, is part of our strategy and shows how technology underpins our audits across the globe. For example EY Helix enables us to evaluate large volumes of client data very quickly and allows us to move away from mundane traditional audit procedures and instead focus on higher risk areas and those transactions or processes that are more relevant to our clients and our audit engagements. In doing so we have been able to improve audit quality and provide our clients with unique insights about their businesses.

My role involves supporting the uptake of these new technologies and working closely with audit teams across UK&I. Our clients are changing and we are not immune i.e. technology is advancing rapidly and being used by our client’s more and more, EY has acknowledged this and done the same.

I hope this answers your question but if anything needs clarity, please let me know.

Thanks

Hi Rich

Thank you for such a great insight into your role and providing a picture of how EY are remaining ahead of the advancements in technology.

Is there one particular new technology that EY are utilizing that is having a real impact and change on the way audits are carried out?

All the best

Dom

Thanks Dom and no problem at all. I am not sure there is just one, but our latest global audit platform is based on EY Helix so perhaps that. EY Helix, our global suite of data analytics, is part of our technology advancement and is a growing and integral element of our audits across the globe. EY Helix enables us to evaluate large volumes of client data (referred to as audit-relevant data) in an audit, thereby helping us target higher risk areas, improve audit quality and provide our clients with unique insights about their business.

In summary EY Helix helps us increase audit quality because we focus on exceptions and the unusual which helps drive more useful insights. We obtain 100% of the data and transactions so that we can identify previously unknown deficiencies in control design and operation. By assessing whole populations of data relevant to the audit, it enables granular, ‘no stone unturned’ analysis, meaning we can focus on non-routine transactions. The best thing about EY Helix is that it is relevant to all stages of the audit delivery cycle, and can be deployed when needed.

We can then share real life examples to have better and more informed conversations with our clients. By taking this approach we can obtain a deeper, broader understanding of businesses, quickly highlight high risk matters i.e. exceptions, manual processes and adjustments.

I hope this helps answer your question.