Autire Technologies Revolutionizes 401(k) Audit Process, Addressing Capacity Issues in Accounting Industry

Autire Technologies, a leading provider of Employee Benefit Plan (EBP) auditing software, has unveiled groundbreaking findings that highlight the significant time and efficiency gains achieved by CPA firms utilizing its platform. With the accounting industry currently grappling with capacity issues, Autire’s fully automated, standards-based technology has emerged as a valuable resource.

Data obtained from Autire’s annual benchmarking survey reveals remarkable reductions in audit hours, particularly in the 401(k) audit process. According to participating firms, those who implemented Autire reported a staggering 40% decrease in the number of hours required to complete a 401(k) audit compared to the previous year. On average, this translates to a savings of over 50 hours per audit.

By streamlining workflows and enhancing productivity, Autire’s technology addresses the capacity issues that plague the accounting industry as a whole. The implications of this efficiency boost extend beyond the EBP audit process, positively impacting the overall operations of clients’ businesses.

“We’re thrilled to witness the profound impact Autire is having, not only on the EBP audit process but also on the accounting industry as a whole,” says Brian Price, CEO of Autire Technologies. “By significantly reducing audit time, Autire is directly addressing the capacity issues experienced across the industry.”

In a compelling case study, a first-year client conducted 19 401(k) audits using Autire and achieved an astounding savings of 976 hours compared to the previous year. As Autire becomes more ingrained in their auditing procedures and more auditors become familiar with the solution, the time saved by firms will continue to increase over subsequent years. In fact, many Autire clients can now complete a 401(k) audit in under 30 hours.

To learn more about the results of Autire’s benchmarking report, interested individuals can visit the company at the upcoming AICPA & CIMA Employee Benefit Plans Conference in Las Vegas from May 6-8.

Autire Technologies, with its innovative technology and industry-leading expertise, specializes in assisting CPA firms that provide EBP audits for plan sponsors. Their purpose-built, fully automated, and standards-based EBP audit software empowers CPA firms to deliver streamlined and superior audits, while increasing accuracy and optimizing procedures. For more information, please visit autire.com.

SOURCE: Autire Technologies

Autire Technologies Reveals Groundbreaking Findings on Efficiency Gains in CPA Firms

Autire Technologies, a leading provider of Employee Benefit Plan (EBP) auditing software, has released findings from its annual benchmarking survey, highlighting significant time and efficiency gains achieved by CPA firms utilizing its platform.

Key Findings:
– Participating firms that implemented Autire reported a 40% decrease in the number of hours required to complete a 401(k) audit compared to the previous year.
– On average, this translates to a savings of over 50 hours per audit.
– A compelling case study showed that a first-year client conducted 19 401(k) audits using Autire and achieved a savings of 976 hours compared to the previous year.
– Many Autire clients can now complete a 401(k) audit in under 30 hours.

Implications:
– Autire’s technology streamlines workflows and enhances productivity, addressing the capacity issues faced by the accounting industry.
– The efficiency boost provided by Autire positively impacts the overall operations of clients’ businesses, beyond just the EBP audit process.

According to Brian Price, CEO of Autire Technologies, the reduced audit time directly addresses the capacity issues experienced across the accounting industry.

Interested individuals can learn more about the results of Autire’s benchmarking report at the upcoming AICPA & CIMA Employee Benefit Plans Conference in Las Vegas from May 6-8.

Definitions:
– Employee Benefit Plans (EBP): These are benefit plans (such as retirement plans) offered to employees by employers.
– CPA firms: These are firms that provide Certified Public Accountant services, which include auditing, taxation, and financial consulting.

Related Links:
autire.com (Autire Technologies’ official website)