Our latest white paper, The State of Audit Efficiency: Insights and Strategies to Meet Realization Targets, provides a data-driven analysis of the key obstacles auditors face and offers actionable solutions to streamline engagements. Backed by extensive survey data from auditors in public accounting, this report highlights common pitfalls in the audit process and outlines strategic measures firms can take to improve efficiency and profitability. This insight is one of four key findings uncovered in our research, each offering valuable guidance to help firms navigate audit challenges more effectively.

Why Document Management Remains a Sticking Point

Gathering and assessing client documents should be a straightforward step, yet it remains one of the most frustrating aspects of audit engagements. 95% of teams report struggles with document requests, with only 36% of requests fulfilled correctly on the first try. These inefficiencies don’t just slow down engagements—they create unnecessary tension between auditors and clients.

Expanding the Document Request and Assessment Process

1. Centralized, Automated Request Platforms: Cloud-based portals enable real-time tracking, reducing back-and-forth emails and ensuring clarity in document submissions.

2. Standardized Request Templates: Pre-defined templates help clients understand exactly what’s needed, reducing errors and the need for repeated requests.

3. AI and Machine Learning for Document Review: Advanced tools can flag missing or incorrect data instantly, allowing auditors to focus on more strategic tasks.

4. Improving Client Education: Educating clients on common documentation errors can preemptively address issues before they cause delays.

5. Enhanced Workflow Integration: Automating document processing and linking it directly to audit workflows can drastically improve efficiency and reduce frustrations.

Addressing document management inefficiencies is critical for audit success. By streamlining requests, utilizing automation, and educating clients, firms can reduce unnecessary delays and improve overall audit efficiency. Investing in the right tools and processes can transform document-heavy workflows, allowing audit teams to focus on delivering high-quality insights rather than chasing down missing information.

For a comprehensive breakdown of these insights and strategies, download our latest white paper, The State of Audit Efficiency: Insights and Strategies to Meet Realization Targets here.