I’ve been thinking about this for a long time. After spending seven years as an auditor and then building two software companies, I’ve developed a unique perspective on the challenges and opportunities in the world of financial statement audits. My experiences on both sides of the equation—rolling up my sleeves to dig into audit work and creating technology solutions to address industry pain points—have shown me that the traditional audit process is ripe for reimagination.
But to truly change the audit, you need something big. Incremental improvements aren’t enough. The market is full of point solutions—AI research tools, PDF scrapers, and systems that pull data from accounting platforms. While helpful, these tools don’t fundamentally transform how audits are performed. They address isolated tasks, but no one is stepping back to ask: How do we revolutionize the audit from start to finish?
This is where Day Zero Audit Evidence comes in—a game-changing approach designed to deliver a comprehensive solution that redefines how audits are conducted.
In the past, risk assessments during the planning phase were often shots in the dark. Sure, auditors could review interim numbers, talk to the client, and perform walkthroughs, but these steps often left critical risks undetected. With limited information available to identify risks, audit teams frequently ended up spinning their wheels, using the risks from last year, or just putting something generic down. This is a very bad approach and leads to
This reactive, box-checking approach to auditing left little room for true risk assessment. The result? Teams were working harder, not smarter, and the potential for audit failure loomed large.
Smart auditing changes the game by shifting the focus from minimum requirements to proactive, evidence-based decision-making. By leveraging comprehensive, upfront testing through Day Zero Audit Evidence, auditors can:
This transformation empowers auditors to perform deeper, more meaningful tests while building confidence that no stone is left unturned. Instead of guessing where risks might be, teams are equipped with the insights to target what truly matters.
Day Zero Audit Evidence is about starting the fieldwork phase of the audit with a set of completed audit tests that technology has already performed. These tests are designed to proactively fill up your audit bucket, providing a foundation of evidence before auditors even begin their on-site work.
This approach doesn’t just save time—it transforms the way auditors approach risk assessment and testing. With these completed tests, you can accurately identify:
Imagine what it looks like when you know on Day One of the audit your client has clean books including:
With this evidence in hand, you can now focus on the critical questions: What’s left? Where is the fraud? Where is the risk of material misstatement? The answers are clear—it's in the estimates, the areas requiring judgment, and the places where professional skepticism is essential. These are the areas where auditors should be spending their time, not buried in random, routine transactions that pose no real risk.
With Day Zero Audit Evidence, you’re not sifting through incomplete data or making educated guesses about anomalies. Instead, you’re working with verified, actionable evidence that provides a crystal-clear picture of your client’s readiness to be audited.
This is modern auditing—starting strong, with all the pieces in place from the very beginning.
All you need is your client’s general ledger and banking data. These data sets are available at 99% of your clients, making this approach highly practical and scalable.
What about the remaining 1%? If your client can’t produce a general ledger, you have a much bigger problem. At that point, firms should ask themselves: Is this a client we should even take on? And if the answer is yes, the audit fee needs to reflect the significant manual effort required to audit that client by hand.
Day Zero Audit Evidence isn’t just a tool—it’s a standard that elevates audit quality and efficiency. By focusing on what matters most, auditors can deliver results that truly make a difference.
While Day Zero Audit Evidence represents the right way to approach an audit, let’s talk about the wrong way—a method that is all too common.
The wrong way to audit is:
The wrong way is inefficient, frustrating, and ineffective. It leads to wasted time, strained client relationships, and increased audit risk.
Day Zero Audit Evidence isn’t just about efficiency—it’s about fundamentally changing how audits are approached at a time when the profession desperately needs transformation. The reality is that fewer people are entering the CPA profession, and more are leaving. Why? Because the work, as it stands, is often tedious, frustrating, and outdated. If we want to retain talent and attract new professionals, we have to change how audits are performed.
Day Zero Audit Evidence is that change. It reimagines the audit process, replacing guesswork and inefficiencies with clarity and purpose. Consider the benefits:
This is not just another tool in the auditor’s toolbox—it’s a paradigm shift. Day Zero Audit Evidence changes the way audits are performed, making the work less manual, more engaging, and far more impactful.
If we want to secure the future of the audit profession and retain the talent we have, we must embrace innovative approaches like Day Zero Audit Evidence. It’s time to evolve the audit process and make auditing work worth doing.
The power of Day Zero Audit Evidence lies in its ability to transform audits from a manual, reactive process into a streamlined, data-driven one. Instead of relying on interim data and conversations, auditors can start with a foundation of robust evidence, using technology to perform tests that were previously too labor-intensive or complex.
This approach doesn’t just save time; it elevates the quality of the audit. With Day Zero Audit Evidence, auditors can focus on analyzing results, making strategic decisions, and providing real value to their clients.
Day Zero Audit Evidence represents the future of auditing. By running advanced tests before fieldwork begins, auditors can identify risks, streamline workflows, and improve audit quality. With the right tools, you can transform audits into a proactive, evidence-based process that fills the audit bucket efficiently and effectively.
The market doesn’t need more point solutions—it needs a revolution. Day Zero Audit Evidence is how we start.
Are you ready to join the transformation? Let’s start at Day Zero.
