Boost efficiency, consistency, and confidence in your audits with DataSnipper
Key highlights
- Streamlined Financial Statement Reviews FSS reduced time spent on accuracy checks and internal consistency validations, improving self-reviews and final sign-offs.
- Improved Consistency and Documentation Standard templates and automated Snips helped enhance and upgrade uniform, audit-ready workpapers that are easy to trace and reperform.
- Standardized processes Clearer procedures and reusable templates made it easier for less experienced staff to ramp up and all team members to follow standardized approaches confidently.
Challenge
LvHJ faced challenges in reviewing financial statement drafts and strengthening audit documentation, particularly with high volumes of samples. LvHJ was looking to improve their process for a standardized, efficient way to link and reference supporting evidence to avoid inconsistencies and delays. While the potential of new tools like DataSnipper was recognized early on, widespread adoption required updating internal standards and workflows. The team needed to identify where automation could deliver the most impact and develop templates to ensure consistent use across engagements.
"Audit documentation prepared using DataSnipper (especially if used properly) has become more convenient and efficient to review. It also contributed to confidence in the audit documentation since the source documents can easily be viewed by clicking the snips. It also helped with audit binder organization with easier referencing. DataSnipper was a helpful tool for FS reviews."
Crisanto S. Francisco
Audit Partner
Solution
By implementing DataSnipper, LvHJ significantly improved their audit processes across internal control testing (cash receipts/disbursements), tenant file testing, and financial statement reviews. Features like Text Snip, Validation Snip, and Sum Snip helped further standardize documentation and improve traceability, especially with large sample volumes. The Financial Statement Suite (FSS) played a key role in identifying mathematical errors and internal inconsistencies, streamlining the review process. Over time, DataSnipper enabled better collaboration between preparers and reviewers, simplified onboarding for team members, and supported a paperless workflow.
