As per my observations, the time spent on data collection is a significant pain point for auditing. Such collection tasks can be difficult and tedious, particularly if you are trying to collect information from multiple systems that may have different formats or store it in ways that make accurate records impossible without extensive cleaning up of any errors along the way.
RPA automation saves time and money by reducing human errors, but its most significant benefit may be simplifying audits. Using bots to automate repetitive tasks can make the job easier for humans while freeing up their valuable resources.
Automating tasks in an audit can provide consistency and repeatability, ensuring you don't miss essential steps or collect the data inaccurately. Robotic process automation can also provide real-time feedback on the progress of an audit which helps identify potential problems early in proceedings.
RPA can even detect and help in fighting fraud. For example, robotic process automation in audit and compliance can compare data across multiple systems to look for any discrepancies that might indicate someone's wrongdoing - this could help report them, so they get investigated further!
Mentioned above are only a few of the many benefits that RPA offers for internal audits.
Get in touch with the experts at Stampa solutions to learn more about how to leverage the powers of RPA.