Audit Substantive Testing Data Automation Tool

The National Audit Office (NAO) requires an off the shelf software solution to assist with automating our audit testing and documentation process, covering two use-cases within financial audit:

1.Substantive testing - Test of detail/Test of control automation

Auditors spend a significant amount of time and manual effort conducting tests of detail (ToD) and tests of controls, comparing documents (such as invoices) to samples from the general ledger or other structured records for consistency. We are interested in document automation software to parse images/pdfs of audit evidence and automatically match to tabular data and output this in a manner which is easy to follow and document for the purposes of our audit testing within an excel document.

2.Financial Statement procedures

Auditors are required to check the financial statements. Ensuring that (for example) the sums within the statements are internally consistent/correct. Similar to the use case above we are looking for document automation software that can automate some of this by extracting 'sums' from the document and automatically reconciling them, as well as some other processes detailed in the procurement documents.

The software needs to be ready for use by 1 October 2024. The estimated total value in this notice excludes VAT and is for the duration of the maximum contract term (1+1+1).