Our audit methodology
Our audit is based on the Horizon methodology designed and universally applied by all Grant Thornton International (GTI) member firms. Horizon makes extensive use of technology in the conduct of the audit. Horizon, as it has evolved, can only be fully applied by using computers. Proprietary software to implement Horizon is developed and maintained by Grant Thornton. Software packages available include:
- GT Explorer, the software tool that implements and
manages Horizon.
Explorer enables audit teams to identify areas of risk. It indicates where misstatements in the financial statements are more likely to occur and generates audit programs tailored to specific situations.
- auditCARE ™,
a software application to document, evaluate and design tests of
internal control;
Internal controls are an organisation's main means to manage risks. But are those controls ever tested? Managers increasingly need to give evidence about the controls and auditors in turn have to evaluate management's assessment. The auditCARE technology is a crucial aid in this process.
It is a software tool that interprets, documents, evaluates and tests clients' internal controls. It also allows the audit teams to comment on ways to strengthen internal controls. This can range from a full Sarbanes-Oxley internal control audit through to specific areas of concern in a small company.
- IDEA, an integrated data extraction and analysis
software which allows direct access to data in a machine-readable
format, facilitates review of entire data files or selected fields
and/or records, and performs calculations and useful audit
functions.
- Pentana TM, a financial statement disclosure checklist program for use when reporting under International Financial Reporting Standards.
