Deloitte Wins 2020 'Audit Innovation of the Year' at the Digital Accountancy Forum & Awards
Deloitte’s newly launched Omnia DNAV is recognized for transforming the audit quality and client service
- Deloitte’s Omnia DNAV is a digital, cloud-based solution that revolutionizes the audit of investments and related transactions to deliver high-quality audits with relevant insights
- Omnia DNAV is the latest feature of Deloitte Omnia, the first global audit platform to be 100% developed and operated in the cloud that integrates cognitive technologies, customized workflows, and advanced data analytics to deliver The Deloitte Audit
Omnia DNAV, the latest feature of Deloitte Omnia, was named "Audit Innovation of the Year." This marks the third time since 2015 that Deloitte has been recognized by The Accountant and International Accounting Bulletin for delivering innovative and transformative technologies to the audit profession. Deloitte won the 2018 “Audit Innovation of the Year” for its audit-transforming Cortex data platform and in 2015 for Argus, an artificial intelligence tool that quickly identifies, extracts, and analyzes information across an entire population of documents.
Deloitte’s Omnia DNAV is a digital, cloud-based solution that revolutionizes the audit of securities and investments. Omnia DNAV combines digital technologies, automation, data science, and artificial intelligence with auditor judgment to drastically reduce manual effort, allow for 100% coverage of a client’s securities transaction records and enable auditors and clients to focus on what matters. What makes Omnia DNAV truly innovative is its use of proprietary algorithms to establish a new way of performing investment valuations. It transforms client data and external vendor data using intelligent algorithms to build “One Deloitte Price” while simultaneously automating audit procedures. Deloitte was also recently named to Accounting Today’s 2020 best firms for technology.
The continued recognition by the International Accounting Bulletin speaks to Deloitte’s commitment to audit transformation and our role in leading the profession with innovative, disruptive technologies. DNAV is the latest enhancement to our global audit platform, Deloitte Omnia, and highlights our efforts to digitize the audit—enhancing audit quality and driving efficiencies that give valuable time back to our clients and auditors to focus on areas and activities that matter most.
—Jon Raphael, national managing partner for audit transformation, Deloitte & Touche LLP.
Omnia DNAV uses sophisticated algorithms to instantly execute investment valuations and automate procedures. This new capability is one in a series of investments made by Deloitte to deliver its promise to continuously innovate and leverage cutting edge technology to provide transformative, high-quality audits.
With Deloitte’s Omnia DNAV, the traditional way of performing manual, time-consuming audit procedures over securities and investments evolves to become an automated process that eliminates redundancies, improves quality, and optimizes efficiency. Omnia DNAV brings a reimagined approach for using technology to digitize and automate audit procedures and lays the foundation to instantly execute investment valuations and automate procedures.
—Susan Klink, Financial Services leader for Audit and Assurance, Deloitte & Touche LLP.
About The Accountant and International Accounting Bulletin
The Accountant and International Accounting Bulletin, owned by Timetric, is a global magazine covering the professional services world. Focusing on business issues affecting firms, networks and associations, it is a source for leading accounting news, as well as data and analysis provided by its survey features.
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