Here’s how we transformed the way Opening Balance checks were performed with Alteryx-powered automation.
Verifying Opening Balances is a crucial but manual and time-consuming audit task. Auditors had to compare each general ledger account to the client’s Trial Balance, check prior-year adjustments, and reconcile discrepancies—often across hundreds of accounts. This process took up to 1.5 hours per file and carried a high risk of oversight, inconsistency, and delays in the audit workflow. The firm needed a more reliable solution to improve both speed and accuracy.
The audit firm was grappling with a slow and error-prone process to verify Opening Balances, which was impacting audit efficiency and quality. Difinity Digital identified the chance to revolutionize this process by applying Automation and with the advanced use of Data Analytics. Leveraging Alteryx, we aimed to build a solution that would drastically reduce manual effort, improve accuracy, and provide auditors with clear, actionable reports—transforming a critical audit task into a fast, reliable, and insightful process
The firm’s audit teams were spending up to 1.5 hours per file manually verifying Opening Balances—comparing ledger accounts, checking prior-year adjustments, and reconciling mismatches. This repetitive process was not only time-consuming but also vulnerable to human error, especially when dealing with large volumes of accounts. Inconsistent documentation and limited scalability further slowed down workflows and posed risks to audit quality and compliance.
Difinity Digital implemented Data Analytics and Automation using Alteryx to streamline the Opening Balance verification process. The solution ingested data from both the audit software and the client’s Trial Balance, automatically comparing Opening Balances account-by-account and identifying discrepancies. It generated a structured report highlighting matched and unmatched balances, allowing auditors to quickly focus on areas requiring review. This drastically reduced manual effort, ensured complete data coverage, and delivered consistent, audit-ready outputs—empowering teams to work faster and with greater confidence.
“Automating Opening Balance verification was a strategic step toward modernizing audit operations. This solution not only improved efficiency and accuracy but also reinforced our commitment to delivering smarter, technology-driven audit services. It’s a clear example of how Alteryx-powered automation, paired with the right expertise, can unlock real value for our clients.”
Manu George Michael, Director, Difinity Digital
–from Execution Team