Automated Compliance Current-state pain points Planning Assessment Follow-up Reporting 1 Risk assessment Bank 2 Auditor Bank Material Accounts Accounts Identified errors Audit scope information 3 payable receivable Independent 5 Auditor Objectives Bank Auditor Supporting Bank audit report documentation Auditor 4 10K/10Q Current-state pain points 1 Resource-intensive: scope 2 Time-intensive review: pulling 4 Resource-intensive: exception 5 Lack of technology integration: formation, risk assessment and sample data for audit review is and error follow-up requires information provided in the audit planning require time-intensive and inefficient additional interaction with independent audit report does representatives from multiple due to dependency on manual representatives from multiple not feed directly into quarterly functional areas, reducing activities functional areas, further and annual filings (10K/10Q), productivity as individual 3 Lack of technology integration: reducing productivity duplicating efforts employees cannotcomplete information is copied from their daily activities source systems and provided to auditors, adding inefficient manual processes that increase the likelihood of errors WORLD ECONOMIC FORUM | 2016 96