Blog: How digitalization is revolutionizing auditing

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 […]

Problem: The recovery of overdue receivables depends to a large extent on when the receivables are identified and appropriate measures are initiated. It can be statistically proven that the earlier overdue receivables are identified, the greater the recovery success.

3 Questions about oktant / Part 1 1) Prof. Dr. Blum: Which user groups benefit particularly from the cloud software “oktant”? We basically differentiate between two user groups, the auditors on the one hand and medium-sized industrial, commercial and service companies on the other. oktant assists the first user group in a targeted manner within […]

House bank credits, increasing the credit line or credits from the public sector (KfW credits or credits from the development banks of the federal states): Good preparation is essential for finance and bank meetings. With oktant, the software solution for the daily evaluation of company and financial data, you are well prepared for negotiations on […]