About Audavis GmbH
Auditors are currently facing enormous regulatory pressure to review increasingly new reporting obligations for companies. At the same time, it is expected that audits become increasingly deeper and more detailed, with nothing escaping the auditor’s attention. The industry is also facing increasingly stringent statutory liability requirements, making it increasingly difficult to handle audit engagements economically and without increased personal liability risk. Into this challenging regulatory environment comes an increasingly severe skills shortage. According to a 2022 survey by the FAZ, over 33% of auditors are older than 60 years old and 75.3% of audit firms suffer from acute skills shortages. Additionally, the training period for new auditors still takes years even after completing their studies, making it very long. The AUDAVIS platform combines data analysis, AI, and industry expertise to co-pilot auditors throughout the entire audit process. AUDAVIS automatically handles the preparation and AI-supported preliminary assessment of complex ERP and accounting data, enabling financial statement auditors to save up to 60% of working time—a real game changer at a time of severe skills shortages in the industry. Beyond this, instead of the previously common statistical sampling procedures, AUDAVIS performs full audits of all accounting data and identifies particularly conspicuous transactions, enabling auditors to dive deeper here and deploy their professional expertise in a focused and effective manner. This significantly reduces AUDAVIS’s liability risk of overlooking a particularly serious error in financial data. Moreover, in its second evolution phase, AUDAVIS will also become interesting for companies as continuous internal audit activities (continuous auditing) for CFOs and internal audit departments.
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