Busy season is won in November: the data standard top firms are running now
Top-performing firms head into January calmer because they standardise client financial data early and
refresh it 3–4× per engagement. That decision shortens review cycles, sharpens risk assessment, and gives clients a smoother experience.
Standardised, balanced, transaction-level data is how leaders protect quality and capacity.
Why this matters right now (market signals)
- United States – improvement under pressure.
The PCAOB reported an aggregate Part I.A deficiency rate of 39% in 2024, down from 46% in 2023.
For the Big Four, the aggregate rate declined to 20%. Progress is real and scrutiny continues, especially around risk assessment and execution. - United Kingdom – Tier-1 gains, consistency expected market-wide.
The FRC’s 2025 inspection results show continued improvement among Tier-1 firms and call for sustained, demonstrable consistency across the market. - Australia – oversight sharpens.
ASIC’s FY23–24 update launched auditor independence surveillance, signalling tighter expectations as firms juggle diverse client system mixes.
Implication: better inputs and evidence-first planning are now essential.
The operating cadence that works
1) Pre-planning (≈ T-30)
- Pull 100% of GL/AR/AP into one, balanced standard in minutes.
- Arrive with 3 observations (ratio shifts, account flows, late postings) and 3 targeted questions to shape scope.
2) Kickoff (T-0)
- Refresh data so juniors start with analysis, not CSV clean-up.
- Align testing with what actually happened; avoid SALY shortcuts.
3) Near-wrap (T+10)
- Refresh again to capture late entries and post-adjustments.
- Document advisory insights for Q1 follow-ups.
Checklist
Inputs
- ✅ 100% source data (not samples)
- ✅ Balances first time
- ✅ Same schema across every client (GL/AR/AP, transaction-level)
Cadence
- ✅ 3–4 pulls per engagement (pre-planning, kickoff, near-wrap, optional quarterly)
- ✅ Agentic triggers (post cut-off entries, ratio spikes) → auto-refresh
Outcomes
- ✅ Evidence-first planning; fewer review notes
- ✅ Juniors analyse first; partners focus on judgement
- ✅ Modern client journey; minutes to share data
Integration > invention
Mid-tier firms pulling ahead do one thing consistently: they centralise a data standard once, then let their stack consume it.
- Data foundation: audit-ready, standardised, transaction-level GL/AR/AP from any accounting system, delivered in minutes.
- Workpapers & analytics: the same standard feeds Caseware, DataSnipper, Thomson Reuters, and Suralink so procedures are repeatable and reconciliations shrink.
- Agentic workflows: on agentic platforms like Covecta, teams set thresholds and agents can automatically request a fresh, standardised extract so files reflect the latest reality without manual chasing.
Regional nuance
- US: improved inspection results with ongoing scrutiny. A multi-extraction cadence plus consistent inputs supports stronger risk response while protecting senior time.
- UK: governance and consistency dominate. Evidence-first planning with ratio trends and account flows, plus a standard file format, aligns to FRC expectations beyond Tier-1.
- AU: independence scrutiny is up and SME system diversity is real. A single client journey (connect or upload → same output) reduces client effort and reviewer churn.
FAQ
Isn’t SALY faster when we’re slammed?
SALY freezes your risk assessment in last year’s reality. Standardised, current-year data surfaces anomalies early so testing time is spent where it matters.
Do we really need 3–4 pulls?
If extraction takes minutes, yes. Kickoff and near-wrap refreshes catch the movements that create review notes and late nights.
Will this disrupt clients?
Not with a modern, branded journey. Clients can connect or upload in minutes; the output is the same every time, regardless of system.
Why Validis
- 100% of source data (GL/AR/AP)
- Standardised and balanced on first run
- Same format across hundreds of accounting systems
- Delivered in minutes, ready for Caseware, DataSnipper, Thomson Reuters, and Suralink
- Agentic refresh possible via modern automation platforms
This combination is how firms unlock the multi-extraction cadence without burning capacity.
Implementation roadmap (14 days)
Week 1
- Appoint champions (partner, manager, two seniors)
- Define the client journey (white-label comms; connect or upload)
- Run a 90-minute enablement and open a peer channel
Week 2
- Pilot 6–8 clients across your system mix (Xero, QuickBooks, Sage, NetSuite)
- Validate balances-first-time on Extract #1
- Codify who requests what and when, plus the planning views you’ll rely on
- Configure agentic triggers to auto-request refreshes
Next steps
- Audit with Validis – how the standard feeds your tools and workflows
- The Ultimate Audit Playbook – quick-win frameworks your team can use this month
- Privacy & Security – ISO 27001 and SOC 2 Type 2
