The company's benchmarking report reveals CPA firms can
cut audit hours in half, making the technology a valuable resource
as the accounting industry experiences staffing
shortages.
DALLAS, May 2, 2024
/PRNewswire/ -- Autire Technologies, a leading provider of Employee
Benefit Plan (EBP) auditing software, announces findings that
underscore the remarkable capacity and efficiency gains achieved by
CPA firms utilizing its platform. Data obtained as part of the
Company's annual benchmarking survey reveals unprecedented
reductions in audit hours.
Autire cuts 401k audit hours in half, making it a valuable
resource as accounting industry experiences capacity issues.
According to data provided by participating firms, those
utilizing Autire for the first time reported a 40% reduction in the
number of hours required to complete a 401(k) audit compared to the
previous year—saving over 50 hours per audit on average. This
reduction in audit time demonstrates Autire's unparalleled capacity
to streamline workflows and enhance productivity for CPA
firms.
"We're excited to witness Autire's profound impact, not just on
the EBP audit process, but also on the overall operations of our
clients' businesses," says Brian
Price, CEO of Autire Technologies. "By slashing the time
required to perform an audit, Autire is addressing capacity issues
that the entire accounting industry is experiencing."
In a compelling case study, one first-year client
conducted 19 401(k) audits using Autire and achieved an astounding
savings of 976 hours compared to the previous year. The time saved
by the firm will increase over subsequent years as Autire is used
for more audits and more auditors become acquainted with the
solution. Many of Autire's clients can complete a 401(k) audit in
under 30 hours.
To learn more about the results of the Company's benchmarking
report, visit Autire at the upcoming AICPA & CIMA Employee
Benefit Plans Conference, happening May
6-8 in Las Vegas.
About Autire Technologies
Autire specializes in serving CPA firms that provide EBP audits
for plan sponsors. By leveraging innovative technology and
industry-leading expertise, Autire enables firms to optimize their
auditing procedures, increase accuracy, and deliver superior
results to clients.
Developed by CPAs for CPAs, Autire's methodology stands
apart from traditional approaches. Autire offers purpose-built
technology for fully automated, standards based EBP audits. With
features such as data-driven attribute testing, incorporated SOC 1
and risk assessments, automated sample selection and testing
workpapers, Autire empowers CPA firms to perform streamlined and
superior audits.
For more information about Autire Technologies, visit
autire.com.
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SOURCE Autire Technologies