In the fast-paced world of auditing, the battle against manual data processing continues to rage. When over 1,000 professionals register for a webinar titled “Escaping the Data and Document Dumpster Fire,” you know you’ve hit a nerve.
This massive turnout confirms what we already suspected: auditors are desperate to escape the soul-crushing cycle of manual data gathering, cleaning, and formatting that consumes their valuable time and talent.
Watch the full webinar recording:
Whether you’re a seasoned audit partner or a junior team member wondering if there’s a better way, this discussion offers practical insights on how leading firms are using technology to transform audit workflows, improve talent retention, and deliver higher quality results for clients.
4 Game-Changing Insights for Modern Audit Teams
1. AI and automation are no longer optional—they’re essential for survival
The auditing world is experiencing unprecedented pressure from all sides: increasing workloads, evolving regulatory requirements, and a battle for talent that shows no signs of easing. In this environment, manually processing data is more than inefficient—it’s unsustainable.
Michael Turner, CEO of Validis, puts it bluntly: “Soul-destroying is my proposal” when describing how finance and audit professionals typically feel about manual document reviews. Most attendees reported spending at least 4 hours weekly on document tasks, though presenters suggested the actual figure is likely closer to 10-12 hours when accounting for all the rework and checking.
⏭️ ACTION: Evaluate your current processes to identify where your team spends the most time on manual data tasks. This audit of your audit process is the first step toward meaningful transformation.
2. The best AI tools solve specific problems, not everything at once
While generalized AI tools get most of the attention, the most successful implementations in audit focus on solving specific, high-value problems within the workflow.
“The best AI tooling provides an audit trail or an ability for the end user to review how it’s worked and the outcomes and the decisions it’s made.”
Explained Michael Turner, emphasizing that transparency is essential for adoption in an industry built on trust and verification.
⏭️ ACTION: Look for AI solutions that are exceptionally good at one thing that fits your workflow, rather than general-purpose tools that promise to do everything but deliver on nothing.
3. Good AI follows four key principles: traceable, actionable, supportive, and specific
Not all AI is created equal. During the webinar, Remco outlined four principles that separate truly effective AI tools from ineffective ones:
- Traceable: Every action the AI takes should be visible to the auditor
- Actionable: Results should be immediately usable within existing workflows
- Supportive: AI should enhance professional judgment, not replace it
- Specific: No imagination or hallucination—just clear, accurate answers
Remco explained:
“The AI should not try to find an answer for you at all costs. The worst thing in finance and auditing is the AI basically imagining a certain answer or saying, ‘okay, this is close enough.'”
⏭️ ACTION: When evaluating audit technology, demand transparency in how the AI works. If a vendor can’t clearly explain their quality controls and error prevention mechanisms, proceed with caution.
4. The talent equation has changed forever
Junior auditors are increasingly voting with their feet, leaving firms where they spend most of their time on mundane data tasks rather than developing meaningful skills.
“I think if I look at some of the manual work that’s currently being done by audit and finance professionals…I think those [new graduates] are gonna come into these organizations and basically demand a change,”
Noted Remco, highlighting how younger professionals have different expectations about technology use.
A webinar participant echoed this sentiment:
“Young professionals don’t want to be doing ‘tick and bash’ or checkbox ticking anymore.”
⏭️ ACTION: Consider your technology adoption strategy as a talent strategy. Firms offering modern, efficient workflows will win the war for talent against those clinging to manual processes.
Chat to the team today to get a deep dive into the standardized, transaction-level data Validis customer firms get access to.
What’s Really Keeping Auditors Up at Night: Your Top Questions Answered
Data security concerns
Q: How can we be sure client data is protected when using AI tools?
A: Michael emphasized that security should be a top priority, with features like SOC2 compliance, no data used to train models, and all processing occurring within private instances. The consensus was that we’re not quite in the world of an “AI SOC2” equivalent yet, but companies should have clear AI policies and be transparent about how data is used.
Change management challenges
Q: How can firms implement AI when they’re already overwhelmed?
A: The most successful implementations start small with dedicated champions. As one attendee noted, “Likely the best approach for adoption within your firm would be better-focused group adoption, as well as partial and gradual adoption. Smaller and midsize firms could be in a better spot if focused on being nimble.”
Missing or incomplete data
Q: These tools are only as good as the data we receive. How can we navigate data availability issues?
A: This remains a fundamental challenge. While AI tools can help identify missing data more efficiently, they can’t create information that doesn’t exist. The speakers suggested that improved data standardization tools like Validis help by creating clearer client requests and reducing back-and-forth communication.
AI performance expectations
Q: How do we judge AI performance in audit contexts?
A: The webinar emphasized that current AI should enhance auditor judgment, not replace it. Good tools are transparent about their limitations and allow auditors to verify results. As Michael noted, “This is not to replace auditors, it’s to empower them and still leave the judgment call with the auditors.”
The Bottom Line: Act Now or Fall Behind
The overwhelming sentiment from both presenters and participants was clear: the audit profession is at an inflection point. While significant challenges remain, the technology exists today to dramatically improve how audits are conducted.
The most provocative statement of the session might have been this warning from Michael:
“I don’t think anyone will lose their job to AI, but they’ll lose their job to the person using AI.”
This captures the urgency of adoption perfectly. Firms that embrace these tools will not only deliver better client experiences and attract top talent—they’ll create competitive advantages that laggards simply cannot match.
Validis and DataSnipper: Better Together
When two best-in-class technologies join forces, the impact is exponentially greater than either solution alone. That’s exactly what’s happening with the Validis and DataSnipper partnership.
How the Integration Works
- Get the data: Login to Validis to export 20+ workpapers – in just one click.
- Start snipping: Copy and paste the data directly into the corresponding DataSnipper template. These templates are accessible in ‘Featured Templates’ under ‘Document Matching.’
- That’s it!: You can now cross-reference and verify client data with ease—transforming what was once a dumpster fire into a streamlined, efficient process.
The Compounded Impact
When firms use both Validis and DataSnipper together, they experience:
- 8+ hours saved per audit on manual data gathering, cleaning, and documentation
- Dramatically reduced errors from manual data entry
- Consistent, high-quality output with a robust audit trail
- Happier auditors who can focus on value-add work
- Better client experiences with fewer back-and-forth requests
Ready to transform your audit process? Contact us today to see how Validis and DataSnipper can work together for your firm.
