For over a decade, Fraxses has demonstrated its ability to unlock data value across industries, consistently delivering results at scale. As we noted in our previous blog, one of the most compelling domains for the platform is the audit space: by enabling the profession to move beyond sampling and manual reconciliation towards full-population assurance, Fraxses is helping to redefine the future of audit.
Our previous blog examined how Fraxses is delivering value in the audit of a key state-owned utility. In this follow-up, we turn the spotlight onto another landmark engagement, this time with an audit institution.
Intenda, in partnership with an advanced analytics company, was contracted to build a unified data platform for public sector audits. This initiative enables the creation of a digitally-enabled audit function.
The Fraxses-powered platform is transforming how audits are executed. Data from multiple systems is ingested automatically, reconciled across sources, and standardised within a Common Data Model created using Fraxses’ Data Intelligence module. The Insights module then delivers real-time BI and visual analytics, enabling cross-auditee comparisons and drill-down reporting.
The impact has been significant: Consolidated or segmented report compilation is accelerated through reuse of validated insights, while embedded business rules support the automation of audit procedures. Audits that once consumed thousands of hours in manual effort now run more frequently, with greater agility and consistency. Documentation requests are now resolved in a tenth of the time, reconciliations can now be completed in minutes, and procurement compliance testing has been reduced to a fraction of the original time.
Beyond these transformative efficiency gains, the Fraxses-powered solution provides the client institution with a consistent, insight-driven audit environment that reduces reliance on individual discretion and enhances quality across engagements. This modernisation also positions it as a digital audit leader in the region in which it operates.
The scale of adoption speaks volumes: within its first year, the platform connected over 200 entities – a speed and breadth of coverage that was previously unattainable. These time gains allow auditors to shift focus from manual tasks to insight generation, boosting effectiveness and value delivery early in the audit process.
Fraxses is transforming the audit profession, enabling auditors to work faster, smarter and with greater assurance, while setting higher standards of public accountability, efficiency and consistency.
Based on the engagement’s success to date, the project scope has been expanded to include entities using additional financial management systems, including those that run on widely-used ERP solutions.
This engagement, together with the public utility audit featured in our previous blog, illustrates how the adoption of data-driven technology is transforming the audit profession, enabling auditors to work faster, smarter and with greater assurance. These groundbreaking public sector audits showcase how Fraxses can drive the digital transformation of audit, setting higher standards of public accountability and delivering new levels of efficiency and consistency.
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