Autire’s Revolutionary EBP Audit Software Demonstrates Significant Time Savings for CPA Firms
The company’s benchmarking report reveals CPA firms can cut audit hours in half, making the technology a valuable resource as the accounting industry experiences staffing shortages.
Autire Technologies, a leading provider of Employee Benefit Plan (EBP) auditing software, announces findings that underscore the remarkable capacity and efficiency gains achieved by CPA firms utilizing its platform. Data obtained as part of the Company’s annual benchmarking survey reveals unprecedented reductions in audit hours.
According to data provided by participating firms, those utilizing Autire for the first time reported a 40% reduction in the number of hours required to complete a 401(k) audit compared to the previous year—saving over 50 hours per audit on average. This reduction in audit time demonstrates Autire’s unparalleled capacity to streamline workflows and enhance productivity for CPA firms.
“We’re excited to witness Autire’s profound impact, not just on the EBP audit process, but also on the overall operations of our clients’ businesses,” says Brian Price, CEO of Autire Technologies. “By slashing the time required to perform an audit, Autire is addressing capacity issues that the entire accounting industry is experiencing.”
In a compelling case study, one first-year client conducted 19 401(k) audits using Autire and achieved an astounding savings of 976 hours compared to the previous year. The time saved by the firm will increase over subsequent years as Autire is used for more audits and more auditors become acquainted with the solution. Many of Autire’s clients can complete a 401(k) audit in under 30 hours.
To learn more about the results of the Company’s benchmarking report, visit Autire at the upcoming AICPA & CIMA Employee Benefit Plans Conference, happening May 6-8 in Las Vegas.
About Autire Technologies
Autire specializes in serving CPA firms that provide EBP audits for plan sponsors. By leveraging innovative technology and industry-leading expertise, Autire enables firms to optimize their auditing procedures, increase accuracy, and deliver superior results to clients.
Developed by CPAs for CPAs, Autire’s methodology stands apart from traditional approaches. Autire offers purpose-built technology for fully automated, standards based EBP audits. With features such as data-driven attribute testing, incorporated SOC 1 and risk assessments, automated sample selection and testing workpapers, Autire empowers CPA firms to perform streamlined and superior audits.
