As an auditing company specializing in auditing and advising institutions in the healthcare and social economy, Curacon is one of the top 3 auditing companies in Germany. At the same time, its core competencies also include the public sector and the church sector.
More than 500 employees use their expertise and experience to support over 2,000 clients nationwide. Curacon is active at 14 locations nationwide.
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You can find an in-depth case study published on the IDW website here.
Challenge
The exponential increase in data volume and regulatory requirements are making audit processes increasingly complex. Data quality plays an important role throughout the audit process. In particular, sample selection and the correctness of data for analytical audit procedures are relevant. Digital tools can play a decisive role here.
However, in order to be accepted by users, a digital tool must fulfill clear requirements: Ease of use, use in a familiar environment, use for dedicated use cases, increase security in the audit process and increase work speed.
Goals
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Use of a tool that can be applied by all employees in daily practice when processing data in Excel format
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Acceleration and qualitative improvement of analyses of data in Excel format for factual and mathematical accuracy
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Simple and transparent procedure and clear documentation of the results when taking samples (MUS, random samples)
Solution
In the case of sample selection (e.g., when auditing trade receivables), the previous steps at Curacon consisted of first calculating the sample size in a separate Excel file with the help of an Excel tool using the auditor risk model. A sample size "X" was calculated in this file using risk factors and tolerance materiality. This number of samples was then drawn from a debtor balance list, i.e. another Excel file, as part of the deliberate selection (usually the highest balances on the reporting date) and evaluated.
Using the DQ Assistant, this standard process was simplified and at the same time improved in terms of quality. The sample size and the individual elements of the sample are now calculated directly in the debtor balance list provided by the client. A simple input menu in the DQ Assistant is filled with the corresponding individual details of the mandate.
The calculation of the sample and the selection of the elements is automatically documented by the DQ Assistant in a new Excel spreadsheet in the file. The selected elements are also highlighted in color in the original spreadsheet. The selection also takes into account the fact that large balances may mathematically cover more than one sample.