Technology has taken the world by storm

Technology has taken the world by storm

Technology has taken the world by storm; it is almost inevitable in every organization in existence. Most successful organizations ever known, have been founded on teamwork or the ability of the employees working together. It entails collaboration and efficient communication through file sharing throughout the organization. File sharing in every organization is a crucial process that significantly affects the performance of the employees and consequently, the organizational objectivity and success. The advancements in technology have reduced file sharing and collaboration to a few clicks on the mouse from the printed papers and courier document delivery strenuous activities. This is a huge thanks to virtual desktop infrastructure and cloud storage technologies. For example, the creation of the OneDrive share document folder helps in seamless collaboration among members of the organization. This includes the providence of its components such as automated file sync same document collaboration, file security, and the end goal of simply sharing and accessing organizational information.

Auditing hugely depends on the security of the organizational documents. Most vulnerabilities originated from the authentication or the rights to control of the documents. For example, viewing, deleting, or editing files is a matter of concern in an organization during the auditing process. File security is used to track events, if any, of the document manipulation on a given file. Automated file sync enhances efficiency in managing and securing digital data and assets that are used during auditing.

Additionally, shared document folders are used to logically places documents and ensure that they are easily located and accessed. This improves the lenience of the auditing processes. They are also used in storing auditing documents. The automation tools help in the multiple arrangements of audit records and the mechanisms of data management, such as capturing and storing. It helps to ensure robustness and consistency in handling the audit records.

In the auditing industry, there exist two roles; internal and external. These two camps have distinct niches or specialisms and carry out different tasks. One of the significant distinct differences between internal and external auditors is the organization in question. Internal auditors help and work in an organization with the sole purpose of streamlining the company’s system and developing robust risk management policies that ensure the policies are implemented and work effectively. Their task is continuous, and it is mainly dependent on internal business control systems. On the other hand, external are independent. Their primary role is providing experience opinion on the truthfulness and integrity of the organization’s financial statements to the company’s shareholders. They also work on monitoring the systems in the organization.

Another difference is internal auditors have the task to report internally to the relevant managers. Internal officers issue the auditing report copies to the managers in charge of providing recommendations that will be considered during the meeting of an audit report committee. On the other hand, external auditors provide audit reports primarily to shareholders and trustees.  Additionally, internal auditors are tasked to provide a detailed and tailored report on not only the risks but also the objectives of the specific areas of the business that are being audited or managed. This because internal auditors play an essential role in helping the organization achieve its goals. External auditors, on the other hand, provide a report in a format as per auditing standards. External auditor’s report focusses on the truth and fairness of the organization, whether it complies with legal requirements.

Internal auditors follow up task is based on a case by case agreement. They have the responsibility to see whether the recommendations were implemented and offer consultative help for the guidance. However, external auditors do not have a follow until the next annual audit planning. Therefore, internal auditors’ task is continuous basing on the internal organization systems of the organization.

Timestamping is an essential element in record-keeping, especially when information is shared among different parties in an organization. File sharing includes exchanging information, creating, editing, and even deleting, and it is online-based. Recording the time and date of all such events is vital and valuable. Timestamping is essential for trust and evidence. It proves that a given document existed at a certain point in time. It also shows that the material is original, modified, or tampered with since its creation. It is an essential part of any agreement or contract.  Therefore, it is crucial to timestamp documents for security reasons.

Indexing is another essential component as documents are changed. This includes keeping track of the uniqueness of a record; in that, it can be easily identified. It helps in supporting information retrieval and query. Indexing is important for rapid data retrieval. Another essential component is data validation. Data validation enables the document to be free from errors such as document failures, misspellings, and missing signatures. It ensures data harmonization as a security measure to the document.

Audit documentation should be organized and provide sufficient details to offer a clear understanding. One of the unmissable components in the audit documentation is the initialization of the auditor. This is not a mandatory but necessary requirement in preparing audit documentation. It is essential in declaring the auditor in charge of the audit process. Notations of the changes made are also vital to prove the integrity and originality of the document. The sole purpose of this is to maintain the accountability of the audit process.