peekpublishersKey Points:
- KPMG is implementing new technology and processes to simplify and streamline the auditing “busy season.”
- The auditing busy season, typically during the first few months of the year, can be a challenging and stressful time for auditors due to high workloads and tight deadlines.
KPMG, one of the “Big Four” accounting firms, is taking steps to alleviate some of the challenges faced by auditors during the annual “busy season.” The busy season, which typically occurs in the first few months of the year, is a period when auditors are required to complete a large number of audits within tight deadlines. It can be an intense and stressful time for auditors, who often work long hours to meet the high demand.
To address these challenges, KPMG is implementing new technology and processes to simplify and streamline the auditing process. The firm has developed a digital platform that automates certain tasks and provides real-time visibility into the progress of audits. This technology allows auditors to work more efficiently and effectively, reducing the amount of time spent on manual tasks and providing greater accuracy and reliability in the auditing process.
In addition to the new technology, KPMG is also focusing on improving collaboration and communication among audit teams. The firm is implementing new communication tools and facilitating regular team meetings to ensure that everyone is aligned and working towards the same goals. This approach helps to reduce duplication of efforts and ensures that auditors are able to complete their work on time and with high quality.
Overall, KPMG’s goal is to make the auditing busy season a less stressful and more manageable time for its auditors. By implementing new technology and improving collaboration, the firm aims to increase efficiency and productivity, allowing auditors to focus on providing high-quality audits to their clients.
While the new technology and processes implemented by KPMG are aimed at alleviating some of the challenges faced during the auditing busy season, it is important to note that the busy season itself is a result of factors outside of the firm’s control. Regulatory requirements and reporting deadlines often dictate the timing of audits, and these deadlines cannot be changed by individual accounting firms.
Nevertheless, KPMG’s efforts to streamline and simplify the auditing process are commendable. By investing in technology and fostering collaboration, the firm is demonstrating its commitment to supporting its auditors and providing high-quality services to its clients.
