Audit Screening Tool: What Is It?

[niyati]

Can someone explain what an Audit Screening Tool is and how it works? I understand it’s used to assess financial records and detect potential compliance issues, but I’d like to know more about its key features, benefits, and when it’s typically used.

 

[Mayank]

An audit screening tool is a digital or manual system used to evaluate financial records, compliance, and processes. It helps identify potential risks, discrepancies, and improvement areas, ensuring accuracy and efficiency in audits before a detailed review.

 

[brook]

An audit screening tool is either an online or hard copy mechanism to audit financial and compliance records and processes. It aids in the anticipation of a possible risk, incongruence, and improvement zones thereby making sure that audit is accurate and efficient prior to an in-depth survey.