Success story

Save 50% of review time with Financial Statement Suite improving overall audit quality

Company
Berney Associés
Employees
51-200
Industry
External Audit

Berney Associés is one of the most important trust companies in Frenchspeaking Switzerland. Its team has expertise in many accounting areas including: Audit, Management consulting and outsourced services, Taxation, Corporate Transactions, and Legal advice.

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Challenge

As a forward-thinking audit firm, Berney Associés recognized that traditional methods of financial statement reviews, characterized by time-consuming manual checks and repetitive tasks, were no longer sustainable in today’s increasingly fast-paced industry. Berney Associés sought a solution that would not only streamline their workflows but also improve the overall quality of their audit documentation. Their search led them to DataSnipper, and they were particularly drawn to Financial Statement Suite, which was about to revolutionize their financial statement review process.

"With Financial Statement Suite, we’ve reduced the time spent on reviewing a single financial statement from 45 minutes to just 15 minutes. Across our audits, this translates to saving several days of work, time that we can now dedicate to more strategic tasks.”

Virginie Tao, Senior Auditor

Solution

Implementation Process and Training

The journey began with a trial phase, during which Berney Associés provided comprehensive training to their auditors. While there was some initial resistance to adopting new technology, the intuitive design of Financial Statement Suite and the comprehensive support from DataSnipper’s Customer Success team helped overcome these barriers and ensured a smooth transition. Auditors quickly realized the potential of the tool, leading to strong user adoption post-trial.

Key resources such as DataSnipper’s Knowledge Base, step-by-step tutorial videos, and ongoing support from their Customer Success team played a crucial role in enabling Berney Associés to fully integrate DataSnipper into their existing workflows. This robust implementation process laid the foundation for achieving their goal of improving audit quality and efficiency.

Impact

Accelerated Review Processes

The introduction of Financial Statement Suite has been a game-changer for Berney Associés. Prior to adopting Financial Statement Suite, reviewing a single 10-page financial statement would take 30-45 minutes. Now, with Financial Statement Suite, the same task is completed in just 15 minutes—a time saving of approximately 50%. Across 100 audits, this equates to saving nearly three days of work, allowing auditors to allocate more time to higher-value tasks.

Automating Calculations with Mathematical Accuracy

Berney Associés leveraged the Mathematical Accuracy feature in Financial Statement Suite to eliminate manual validation of figures in financial statements. This feature automatically identifies errors and ensures the correctness of numbers with just a few clicks, significantly reducing the need for manual cross-checking. By automating these time-consuming processes, the team not only saved valuable time but also improved the overall precision and reliability of their audit documentation.

Improved Accuracy with Version Compare

DataSnipper’s automation features have empowered Berney Associés auditors to approach their work with greater confidence. With the Version Compare feature, auditors can track any changes made between versions, reducing the likelihood of errors and improving their confidence in the quality of their work. By automating this once-manual task, the firm has strengthened its ability to ensure compliance and maintain high-quality documentation.

By embracing innovation and leveraging DataSnipper’s advanced features, Berney Associés has successfully enhanced the efficiency and quality of their audit processes. The significant time savings, coupled with improved accuracy and compliance, underscore the value of adopting automation in the audit industry.

Berney Associés reported the following time savings:
Procedures
Without FSS
With FSS
Time Savings
Reviewing a single financial statement
30-45 minutes
15 minutes
over 50% efficiency gains
The total number of financial statement reviews per year
over 50 hours
25 hours
over 50% efficiency gains
Reviewing a single financial statement
30-45 minutes
The total number of financial statement reviews per year
over 50 hours
Reviewing a single financial statement
15 minutes
The total number of financial statement reviews per year
25 hours
Reviewing a single financial statement
over 50% efficiency gains
The total number of financial statement reviews per year
over 50% efficiency gains
Berney Associés
Time Savings

Leveraging Financial Statement Suite decreased the time needed for reviewing financial statements by 50%.

Improved Quality

FSS’s advanced automation could detect calculation errors, identify discrepancies with previous year reports, and track version changes, increasing output quality.

Enhanced Collaboration

The Version Compare feature significantly reduced back-and forth interactions with clients, saving time and effort.

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