Blog: How digitalization is revolutionizing auditing

Fraudulent actions often have patterns that deviate from the norm and are reflected in certain company key figures or in relations between key figures. Machine learning methods can be used to detect fraudulent patterns in company data. However, before these methods can effectively detect fraud, they must be trained accordingly. The quality of the training […]

Fraud in annual financial statements is making the headlines again and again in the current period. The question arises as to how this could remain undetected, even though the financial accounting was examined by auditing firms. It is often very difficult to recognise or prove fraudulent behaviour on the part of companies. Time and again, […]

Did you know … …, that all analyses in oktant are based on Microsoft Power BI? With Power BI, data is presented to you in interactive and modern visualisations. By using the filters and graphics, the data relevant to the audit can be filtered directly. …, that oktant audit offers enterprise access for your clients? […]

Problem: Reversals or credit notes close to the balance sheet date can give indications of balance sheet embellishment or even balance sheet manipulation. oktant supports the identification of postings that could represent reversals or credit notes. The focus is not on the posting text, but on the examination of debit postings to revenue accounts.

The objective of the audit is to ensure compliance with the strict low-value test in the valuation of inventories (§ 253 paras. 1 and 4 HGB), insofar as raw materials, consumables and supplies as well as merchandise (§266 B.I.1 and B.I.3 HGB) are concerned. This allows the overvaluation of old inventories to be identified.

In order to offer oktant finance & oktant audit users increasing convenience and the best possible results, we are constantly working on optimising the customer experience and performance. For you, this means pleasant innovations!

Problem: Practice shows that default regularly affects not only individual receivables per debtor, but often the total balance of a debtor. Therefore, the auditor must also keep an eye on the total balances and thus the maximum exposure per debtor as part of his continuous auditing.

Problem: Practice shows that default regularly affects not only individual receivables per debtor, but often the total balance of a debtor. Therefore, the auditor must also keep an eye on the total balances and thus the maximum exposure per debtor as part of his continuous auditing.

Problem: While the last audit action presented (age structure analysis) focuses on the identification of individual receivables, the stratification of individual receivables serves to obtain an overall view as part of the digitalisation of accounting and auditing.

3 Questions about octant to Andreas Lau / Part 2 1) Is the development of oktant due to a spontaneous intuition or is it based on the strategic compilation of customer requirements? The idea for the development of oktant had two starting points: On the one hand, auditors have been dealing with the question of […]