Question

PwC’s Halo is an analytical tool that allows auditors to interrogate a client's data and identify patterns and relationships within the data in a user-friendly dashboard. By mapping the data auditors and managers can identify inefficiencies in business processes, discover areas of risk exposure, and correct data quality issues by drilling down into the individual users, dates and times, and amounts of the entries. Tools like Halo allow auditors to develop their audit plan by narrowing their focus and audit

Answer 1

PwC's Halo is an analytical tool used in auditing to analyze client data, identify inefficiencies, and manage risk, thereby helping auditors refine their audit plans.

Step-by-step explanation:

PwC's Halo is a sophisticated analytical tool utilized by auditors to thoroughly examine a client's financial data. This advanced system assists professionals in identifying complex patterns and relationships within that data through an interactive dashboard. By effectively mapping financial transactions and other relevant data, auditors can pinpoint inefficiencies, assess various risk exposures, and resolve data quality issues with precision. Crucial details such as user identities, transaction dates and times, as well as financial amounts, can be examined in depth. These capabilities enable auditors to fine-tune their audit strategies, focusing their attention on more significant areas that might require a closer look.