Autire, a SaaS platform for Employee Benefit Plan auditing, has launched its Automated Risk Assessment feature, enhancing 401(k) audit compliance.
This innovation provides CPA firms with a solution that automatically calculates risk during standards-based audit procedures, reducing compliance risks.
Autire’s platform simplifies the auditing process, ensuring transparency and traceability in risk assessment and response documentation.
It’s Automated Risk Assessment addresses the compliance challenges faced by CPA firms auditing employee benefit plans.
The automated feature offers stakeholders a fast and accessible way to support auditor judgments, eliminating the need for manual documentation and ensuring every risk and response is documented and easily retrievable.
The risk assessment is fully automated in accordance with Statement on Auditing Standards No. 145.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIt includes capabilities such as automatically calculated risk as a byproduct of activities performed to meet auditing standards.
Built-in questions feed directly into the risk assessment, and the platform quickly documents controls and walkthroughs consistent with user entity controls relevant to the SOC report.
SOC assessments are integrated into the risk assessment, supporting reliance on SOC auditor work.
Autire also provides quick preliminary analytics and conclusions, automatically documenting by attribute and assertion, referenced to audit substantive procedures.
Its new feature transforms the auditing process from a time-consuming task into a streamlinedand accurate procedure.
Autire CEO Brian Price said: “Autire’s Automated Risk Assessment is a game-changer for CPA firms conducting 401(k) audits.
“By removing the manual elements of risk assessment, we help CPA firms ensure compliance while freeing them to focus on higher-value tasks. This technology is the first of its kind, bringing much-needed accuracy, confidence, and efficiency to the audit process.”
