The UK’s Audit Office (BOE) has issued a new audit certificate that could prove to be a significant boon for those who run audit systems for organisations across the country.
Audit certifications are issued by the UK’s Department of Enterprise, Trade and Investment (DETI) which has authority to oversee auditing and compliance for public bodies and private sector entities.
The audit certifications were designed to protect audit systems against the threats posed by malware, ransomware and other threats, according to the BOE.
But the certification could prove a boon for companies that need to make sure their audit systems are up to date.
Audit certificates can only be issued to organisations which have been approved by the Office of the Auditor General (OAG), the body that approves all audits.
This means that any organisation that doesn’t have a working audit system, or if they don’t have one, can’t use the audit certificate.
The BOE’s new certification could potentially pave the way for organisations to get audit certifiers in their systems.
“We will work with organisations to develop a certification, as soon as we are confident that we can make this certification valid,” said BOE chief executive, Chris White, at the launch of the new certification at a DfT conference on Tuesday.
“This is a really important step forward for organisations who are running auditing systems, and this is something that they may not be aware of.”
It’s a move that is likely to attract attention from the US and elsewhere, as the certification is being seen as a way to improve auditing processes in other jurisdictions.
The certification process has already been adopted in Australia and New Zealand.
But its possible to be certified in the UK as early as 2019.
The new certification is part of the Government’s “Ace of Spades” campaign, which aims to bring audit and compliance technologies into the 21st century.
This campaign will include an online portal and online certification form, the launch date of which has yet to be announced.
“The Ace of Spade is about creating a new standard for auditing, and we want to help organisations develop a better and more secure audit experience,” White said.
The company has already secured a pilot project with the Department of Business Innovation and Skills (BIS) which aims “to get audit software to more organisations in 2020”.
This will involve a pilot of a new application called AuditD.
“AuditD will help organisations run their own audit software, allowing them to monitor and manage their audit processes,” the company explained in a blog post.
“By providing a better audit experience, we can ensure that we do a better job of protecting and protecting audit systems from cyber threats, while also improving the audit performance of organisations.”
The company also announced that it is planning a further pilot project to enable organisations to use a new system called Audacity, which will be “a set of technologies to automate auditing”.
Audacity will be used by companies that run auditing software to manage their compliance and reporting, and will enable them to audit more quickly, it said.
“It will also provide auditors with the ability to automate the audit process,” the blog post said.
This will be a welcome addition to organisations that are still relying on manual auditing.
The “Audacity certification is an important step towards achieving an audit system that is safer and more reliable for organisations.”
White said that “it is the first audit certification issued in the United Kingdom, and it will be supported by the Government.”
The BOe has already announced a number of other initiatives in the US as part of its Ace of Diamond campaign.
In July, the company signed a contract with the Office for Civilians to provide a “virtual audit”, allowing individuals to provide audited accounts of themselves and their family members.
This virtual audit will be provided to “any organisation that wishes to provide this service”.
The BOA has also announced a pilot to use virtual audit services to assist organisations in meeting the 2020 auditing targets set by the United Nations.
“Virtual audit has a lot of value and is a good tool for organisations because it is able to provide transparency, it allows them to assess and verify their processes, and to provide feedback to the auditing authorities,” White explained.
The Ace of Agile campaign is also making progress in the Philippines.
On Tuesday, the BOA announced that “a virtual audit service” will be launched for the Philippines at a Bizulong event in Manila.
The Philippines has recently been hit by a wave of ransomware attacks, which are causing havoc across the Philippines and the country is bracing for further disruptions.
The attacks have also hit the Philippines’ banks, with many banks reporting their users have lost access to funds.
The virtual audit platform will allow individuals to conduct “audit sessions” on their devices and provide information about their financial accounts.
The platform will also allow users to conduct cross-border audits.
“If an organisation wants to audit a foreign bank, it will need to provide an