Inspiration

As retail investors, we use audited financial statements to guide our investment decisions in the Singapore stock market. Over the years, we have been 'burnt' by many accounting scandals. Yet, can we blame the auditors?
Auditors face their own challenges with time, data, staff, competition and rogue clients. Are there smart solutions to help auditors carry out their due diligence tasks efficiently and effectively? So, we can have better audit outcomes.

Problem Statement

For audit purpose, auditors request clients to submit data on Templates manually. The data transcriptions often lead to Casting Errors, and require repeated checks by the auditors. There is also no common platform for Communication with Client and Audit Confirmation parties. The follow-up by auditors is inefficient and leads to delay. Monitoring on outstanding actions are tracked manually which is inefficient.

What it does

A.S.A is an Audit Super App, an Integrated Platform using Application Programming Interface (API). It is a Gateway built on top of Best in Class Apps, e.g. Intuit, Xero, SAP for Accounting, Dropbox Enterprise for Data Storage and Team Communication. A.S.A can be Customized for Audit needs.

Benefits of A.S.A

A.S.A facilitates Automated Data Feed direct from Accounting Software used by Client to ensure accuracy, completeness and timeliness of financial data. A.S.A taps on established Database software e.g. Dropbox Enterprise, to facilitate efficient and secure storage and effective team communication and collaboration.

A.S.A caters exclusively for Audit. We believe A.S.A is unique and first to market.

How we build it

The core programming language to build A.S.A is Python and relevant Python libraries including Numpy, Django, Flask, Pandas, Bokeh, Matplotlib as well as others including HTML, CSS, Javascript, JQuery and Bootstrap.

Challenges we ran into

We have limited Domain Knowledge and Technical Competencies. Nailing down which problems to solve and how to solve with technology posed challenges to us. The practical insights provided by our mentors Deloitte & Touche LLP Mr Chew Chang Hong and Ms Chloe Tan have been invaluable.

Our Learnings

The grass is greener on the other side. Each profession has its unique set of challenges. It is important to learn from practitioners to identify real problems.

Accomplishments that we're proud of

Completing this submission is an accomplishment we take pride in.

What's next for A.S.A

We will evaluate more thoroughly the Business and Technical Feasibility of A.S.A. If feasible, we will move to develop a Minimum Viable Product (MVP), test, launch and scale.

Built With

• python