Since 1953, GBQ’s assurance team has been at the forefront of delivering high-quality and efficient audit solutions, always with one goal in mind: empowering growth of our clients’ businesses. To further enhance your experience, GBQ is adopting a new cloud-based platform, Inflo Workpapers (Inflo), for the delivery of all audit services, effective immediately. Additionally, Aiwyn will power our client engagement letter automation.
What is Inflo?
Inflo is currently the only audit platform that combines digital collaboration, data acquisition, data analytics, working papers, and client reporting. With world-class security and compliance features, including ISO 27001 certification and SOC 2 standards, you can trust that your information remains safe.
How Does This Benefit You?
Our investment in Inflo enables us to provide you with:
- Cutting-edge compliance: The platform stays updated with the latest regulations, ensuring our audits remain high-quality and compliant.
- User-friendly collaboration: Enjoy easy-to-use and clear collaboration tools that have garnered positive client feedback.
- Automated tasks: Automated routine tasks reduce errors and allow us to focus on critical audit risks.
- Advanced data analysis: Efficiently analyze large data sets and use new auditing techniques made possible by data analytics and AI.
- Enhanced client insights: Leverage powerful business data analytics tools for on-demand insights at your fingertips.
What To Expect:
The level of logistical impact will vary between clients, partly depending on the typical delivery timings of information and the workflow of your audit, as well as your familiarity with Inflo. Your audit team will provide guidance and support to address any changes this transition may bring and will proactively communicate with you to establish practical and realistic transition plans.
- Delivery and Workflow Timing: Inflo’s audit file structure is dynamically created around uploaded data rather than using a generic audit file with manual tailoring. As such, clients will be required to upload certain planning information (such as a draft trial balance or a full transaction listing) before we begin planning and risk assessment work. Please keep in mind that data collection may occur earlier than previously requested, and delays could significantly impact the scope of work our team can perform. Your engagement team will collaborate with you to determine the most efficient method and timeframe for carrying out the upload. The initial planning data upload can be a year-to-date or year-end position, depending on whether or not it is ready for audit. The data can often be extracted straight from your accounting systems or directly uploaded by you to streamline the data collection process and allow you to maintain control. In some cases, we can obtain and upload the data ourselves. The platform also supports an optional second upload of audit-ready year-end data. This feature is useful if the initial upload differs from the final data, as it integrates smoothly into our audit plan, allowing us to reassess and finalize the audit.
- Audit Requests and Approach: Our team may request different or additional information for your audit compared to previous years. Additionally, you may be asked to upload information directly to the Inflo system. We aim to make this transition as smooth as possible, so we’ll offer clear guidance and advance notice to help you adjust to these changes. Audit data analytics tools could lead to less sample-based testing and fewer supporting documents if data outliers are minimal, reducing the time spent on administrative tasks and streamlining the audit process.
Aiwyn: Engagement Letter Automation
To make our services more convenient, GBQ is using a new tool called Client Engagement Automation, powered by Aiwyn, to automate engagement letters. You’ll receive an email from our team with “Action Required” in the subject line. Click the “Review Engagement” link to access the portal, review, and e-sign the letter. If you don’t have a portal account yet, you’ll be prompted to set one up—this is a one-time process.
We’re excited about the enhancements these platforms will bring to your engagement and appreciate your patience during the transition. A member of your engagement team will communicate ongoing updates via email. Please reach out to your GBQ advisor or inflo@gbq.com for additional support or information as needed.