Reimagining the Audit Experience
Meet Martin Fjeldbonde, who is married to Lotte, who also works in Deloitte and together they have two girls. He is a dedicated Chelsea fan and gin enthusiast, and currently Martin is using his spare time to find the perfect summer cottage for his family as the last months have shown him the value of spending the summer in Denmark.
Martin is also the COO of Audit & Assurance and architect behind several major strategic initiatives launched to transform our audit business. Auditors need to be capable of using advanced data to investigate the future and consider a broader perspective for their clients. Martin’s job is to challenge how we approach audit today, and here he shares his thoughts on the journey towards a more digital audit business:
How would you describe our Audit & Assurance business today?
Serving the public trust is our most important job, and building trust is crucial to our client engagements. As a business, we are in great shape and I truly believe we are on the brink of something very exciting. We have the brightest talents who deliver exceptional work of high quality to our clients every single day. They create exceptional value by pushing the boundaries for what an audit is and should be.
And, we have a partnership that is fully committed to investing in the transformation of our business. So overall, I think we have all the building blocks to do extraordinary things within Audit & Assurance, and therefore I am very excited about the years to come.
What achievements are you most proud of?
The launch of our new IT system for preparing financial statements called ‘FACT’. We have been working hard to create FACT for a couple of years, so seeing it materialise into a system that is everything we hoped for is a huge milestone for us. FACT is second to none, it creates efficiency throughout the entire process of preparing financial statements, and it is a great foundation for future developments.
What are the next steps? What are we looking into?
Technology might fuel the reimagination of audit, but it is our people who empower it. We therefore invest massively in providing exceptional talent experiences and building capabilities fit for the future. We need to continue to raise the bar for our digitally enabled competences throughout the entire business. Not only to face changing demands from our clients, but to get ahead and define the pace of the digital audit transformation. That is essentially the aim of Reimagine Audit.
We will also continue our focus on even more standardisation, as it is a prerequisite for automation. The next couple of years, we will roll out global audit systems which will take standardisation to a completely new level and allow for global scale automation.
Finally, as we push the digitalisation agenda even further, I think we will see new digitally delivered services emerge. We have seen small but very promising signs of this already, so I expect it to take off within a year or two.
What do you love the most about your job?
Peter Drucker’s famous quote “The best way to predict the future is to create it” is how it feels going to work. I believe the things we are working on now will influence how we audit in the future. Being able to play a small part in that is incredibly satisfying and very exciting… And doing that all while being surrounded by the best and brightest minds... what more could you ask for?