automated-auditing

Vocabulary Word

Definition

The term 'automated-auditing' refers to the use of software tools that can automatically carry out auditing tasks. It can be seen as a computerized system that reviews and evaluates data and information without human intervention.

Examples in Different Contexts

In financial systems, 'automated auditing' streamlines the review of financial transactions for accuracy and fraud detection. A financial analyst might state, 'With automated auditing, we can process and verify thousands of transactions daily, ensuring financial integrity.'

Practice Scenarios

Accounting

Scenario:

Tax season is approaching and we need to validate all the financial data and transactions without going crazy with spreadsheets.

Response:

I agree, instead of using spreadsheets, let's switch to automated auditing. It can facilitate faster and error-free verification.

Operations

Scenario:

I'm a bit concerned about our manufacturing efficiency these days. We need a faster and more accurate way to track our production processes.

Response:

Incorporating automated auditing tools in our manufacturing processes could significantly improve our efficiency and resource management.