Audit software provider AuditFile and business publishers John Wiley & Sons have jointly released a new version of AuditFile’s cloud-based audit program and automation solution.

Wiley Advantage Audit is a risk-based audit planning aid and audit program series, designed to help auditors comply with risk-based professional standards in a straightforward manner and simplify the work of their low-complexity audits. As part of the deal between AuditFile and Wiley, the 2017 Wiley Advantage Audit series will only be available digitally and distributed solely through the AuditFile platform.

Features in the new solution include:

  • Real-time audit progress tracking mapped to the chosen audit program through dashboards and real-time notifications;
  • Industry-specific modules with risk-based planning tools, audit program, and completed materials for a sample company, including sample client letters;
  • Access to integrated workflow linking planning, programs, workpapers and the trial balance;
  • And automated planning tools for areas such as risk management, materiality, internal controls and ratio analysis that flow through to applicable program areas.

“We are focused on delivering a completely automated audit experience for our customers,” said Gary Bong, CPA, a founder of AuditFile, in a statement. “We’ve designed AuditFile with one focus — to be an easy-to-use, scalable solution that combines workpaper and trial balance management, audit workflow, and methodology in an open platform that easily integrates with other cloud-based tools used in the firm. This partnership with Wiley helps us build on that vision.”
AuditFile will offer the complete Wiley Advantage Audit programs as an integral part of its Pro Plus version later this month. Pricing for a monthly subscription of Pro Plus starts at $149. More information can be found here.

 

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