Amid the COVID-19 pandemic, more than 12,000 professionals in Deloitte’s Audit & Assurance business suddenly pivoted to working remotely. Audit teams that were accustomed to being physically co-located at a client site or Deloitte office were now faced with the challenge of completing audits virtually while sustaining Deloitte’s record of high quality during a traditionally busy time of year.
Deloitte’s audit engagement teams were ready and equipped to successfully navigate the unprecedented transition largely due to more than a decade of investments in digital transformation and a commitment to well-practiced project management, flexible processes, and leading-edge technology capabilities that enable audit teams and their clients to have the confidence and connectivity that are critical in a crisis. As a result, Deloitte created a seamless experience during the transition to working virtually with clients, all while continuing to deliver the same high-quality audits they are known for.
Deloitte accomplished this by focusing on what matters, including:
- Using the cloud. Deloitte audit professionals have been on a journey to digitize the audit. Omnia, Deloitte’s cloud-based global audit platform, brings bright minds, flexible methods, and world-class audit technology to deliver a more focused audit experience. Clients receive a digital audit experience that improves audit quality and effectiveness; uncovers insights and observations about their business; and reduces the burden of an audit on their team.
- Instilling agile principles. Furthering Deloitte’s successful transition to remote auditing, engagement teams use agile ways of working. With Deloitte’s cloud-based audit platform, teams communicate, share information, and exchange audit data requests seamlessly in a virtual environment, while staying informed in real-time.
- Leveraging analytics and digital risk assessments. With Deloitte’s powerful data analytics engine, teams remotely extract, harness, and analyze client data for the audit.
Deloitte’s digital transformation journey isn’t over—it never will be. Opportunities are ever-evolving, the needs of the capital markets are increasingly dynamic, and the risk of unpredictable events will remain. Deloitte’s steadfast commitment to a culture of continuous improvement provides the foundation necessary to confidently manage the unexpected, even when the outlook is uncertain – fulfilling the professions’ purpose to deliver trust in the capital markets.
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