Robotic process automation (RPA) is software that interacts with other application software at the user interface level and can be used to automate processes that are structured, rule-based and repetitive.
In an article in the January/February issue of CPA Voice, Michael Cohen, CPA (retired), Andrea M. Rozario, CPA and Chanyuan (Abigail) Zhang performed a case study to discover if RPA can improve audit quality.
The group looked at a public accounting firm in New York City, that audits more than 800 employee benefit plans, most of which were defined contribution plan audits. The objective of was to “increase the efficiency and enhance the effectiveness of the limited scope defined contribution plan audits because the audit procedures in this type of engagement consist of labor-intensive, time-consuming and repetitive testing.”
Read the article now to learn of the study’s findings and how RPA made a difference.
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Every edition includes a 12-question self-assessment exam covering content from that issue. Receive a grade of 75% or higher and you’ll earn one hour of CPE credit in specialized knowledge.
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