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National Coding Week 2021

Celebrating National Coding Week 2021 It’s National Coding Week! To celebrate, we interviewed our Lead Full Stack Developer, Pierre Pauly, to find out more about his involvement with mentoring charity, codebar. What is codebar? codebar’s aim is to break down the barriers of entry to the digital world by making technology more accessible. Technology is […]
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Supporting CAMFED

This year, Engine B is proudly supporting CAMFED – Campaign for Female Education – as its chosen charity. After a collective company vote, the Engine B team chose to support CAMFED through various fundraising events, including the Royal Parks Half Marathon later this year, for the duration of 2021. Read on to find out what […]
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Shamus Rae on the Future of Audit: Part One

In the first of this two-part blog series, CEO Shamus Rae, describes Engine B’s vision for the future of audit and how Engine B is helping to design a fairer, more transparent, technology-driven sector. Audit today We must not dwell too much on what is wrong with audit today. However, having worked across multiple firms, […]
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What is a Knowledge Graph?

The next big thing At Engine B, it’s no secret that we’re crazy about Knowledge Graphs and think you should be too. But, what is a Knowledge Graph and how should organisations be leveraging them today? In its simplest form, Knowledge Graphs (KGS) are complex mind maps that work similarly to a human brain by […]
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Behind the scenes with Andreas Loucas

As part of our ‘Behind the scenes’ series, we talk to Data Science Intern, Andreas Loucas, about his passion for data science and how his intership at Engine B is helping to carve out a future career in the medical industry. Tell us a little about your role at Engine B My role here at […]
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Data ingestion tools: The Engine B difference

Data ingestion done differently Audit firms today rely heavily on data for audit processes, from providing assurance over transaction classes to uncovering and determining fraud risks and anomalies. But to effectively accomplish these tasks, audit firms must get access to the breadth of data they need, in one place. As Albert Einstein once said, “We […]
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Audit software tools: Solving firms’ top 5 pain points

How are audit software tools solving problems for audit firms everywhere? In my work as Engine B’s Ecosystem Manager, I talk to a range of audit firms of all shapes and sizes on a daily basis. Time and time again I hear the same gripes and problems repeated. These are exactly the types of problem […]
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Behind the scenes with Data Scientist – Ioannis Efstathiou

Meet Data Scientist, Ioannis Efstathiou As part of our ‘Behind the scenes’ insights, we talk to our Data Scientist, Ioannis Efstathiou, about his passion for Artificial Intelligence and role at Engine B. What led you to becoming a Data Scientist? A driving force for me has been my passion for Artificial Intelligence (AI) and in […]
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Challenges with data ingestion tools for audit

Data ingestion tools Audit firms are being held back from the technology revolution that has delivered efficiency and reliable high-quality to other industries by a lack of reliable, standardised data. Firms aren’t able to perform analytics at scale, which means expensive and highly-trained audit staff spends days tidying and reconciling evidence that could be checked […]
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Donne Burrows on the representation of women in the workplace

Women in the workplace and the road towards gender parity For women working across the corporate landscape, the recent news that there are now more women CEOS of Fortune 500 companies than ever before would have been hard to miss with LinkedIn and Twitter feeds full of commentary on the great progress this represents. However, […]
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Knowledge Graphs revolutionise the way we use data

Knowledge Graphs Corporate data can be a huge strategic asset. However, the sheer volume and different types of data can make analysing and using it to make better operational decisions extremely challenging. Not only is the amount of data accessible to organisations increasing all the time, but the types of data can vary hugely. Data […]
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What is data ingestion?

Data ingestion explained Audit firms rely on data to make accurate business decisions, predict trends, forecast the market, plan for future needs, and understand their customers. The data might be in different formats and come from various sources, but auditors are generally not experts on any of these. Since the data comes from different places, […]
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The digital audit

Digital audit Today’s article in Accountancy Today ‘EY acquires UK technology business’ (May 11th, 2021), serves to reinforce the importance of adding new technological capabilities to audit advisory and consulting services. EY has purchased Pythagoras Communications Holdings Limited, which provides professional services and solutions using technology platforms. The objective of the purchase being ‘To increase […]
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Not just another audit technology company!

Audit technology company What makes Engine B unique? In recent years, the audit technology space has rapidly expanded and has witnessed aa rise in the number of audit technology companies out there and the expansion of offerings these firms are providing. Now in 2021, the competition and diverse range of solutions at hand are leading […]
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Behind the scenes with Engine B’s Head of Marketing

Who’s behind the voice of Engine B? We talk to Lindsay Ross, Head of Marketing and Communications at Engine B, to find out a little more! What led you to become a tech marketer? My career sort of shaped itself. I studied Economics at university, as I wasn’t sure what I wanted to do career-wise […]
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63% of auditors believe sampling is no longer enough to deliver high quality audits

Audit software Sampling vs audit software – technology comes out on top In Engine B’s latest LinkedIn poll, we asked auditors – ‘Can sampling for substantive and controls testing deliver a high enough quality audit now technology allows for 100% testing?’. The result, though clearly in favour of using technology to ensure quality over traditional […]
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Behind the scenes insights with Pierre Pauly

As part of our ‘Behind the scenes’ insights, our Full Stack Developer, Pierre Pauly, reveals what motivates him professionally and shares some pearls of wisdom for buddings developers. Tell us a little about your professional background? My journey into software development officially started in 2006 when I began studying Informatics in high school. Since then, […]
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Anomaly detection done differently

Understanding the uniqueness of Engine B’s anomaly detection technology Anomaly detection has been present in some aspects of audit for several years, but it is not often in a way which allows it to be used within a high-quality methodology. Engine B’s technology is now addressing this by providing auditors with a context-rich view of […]
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Data security in the digital age

Data is one of the most valuable assets a business has at its disposal, encompassing anything from business transactions to valuable consumer information. Using data effectively will positively affect everything from decision-making to marketing and sales strength. This makes it critical for businesses to take information safety seriously and ensure that necessary safeguards are in […]
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Made by auditors, for auditors

Engine B’s approach to audit tech In the previous two blogs in this series, Engine B’s Franki Hackett explores the reasons why audit needs to modernise, and why Common Data Models (CDMs) and Knowledge Graphs (KGs) are such powerful tools for audit. In her latest article, Franki digs deeper into Engine B’s approach to audit […]
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Arming accountants with fraud detection software in the war on corporate crime

Fraud detection software This week, the Institute of Chartered Accountants for England and Wales (ICAEW) published an article championing the role of both accountants and AI technology in the war against economic crime. It’s no secret that the audit sector has been rocked with financial scandals recently. And, today, on Thursday, March the 18th 2021, […]
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Tech-driven audit: Knowledge Graphs and the Audit CDM

Audit quality powered by the Audit Common Data Model and Knowledge Graphs This is the second of a three-part series by Engine B’s Head of Audit and Ethics, Franki Hackett, examining the different ways in which technology is improving audit quality. In her latest article, Franki explores how Common Data Models and Knowledge Graphs offer […]
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74% of auditors confirm data access as blocker to digitisation    

Unlocking access to client data with audit technology solutions In a recent LinkedIn poll, we asked auditors “How much of a barrier is access to client data to the digitisation to audit?”. The answer was pretty resounding with 74% of auditors confirming data access to be a significant blocker to transformation. An unsurprising result? This […]
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Engine B technology tackles FRC Audit Quality Review

Addressing the FRC’s audit quality review with technology No-one could deny that 2020 was a turbulent and disruptive year for the audit sector. The audit sector went on trial both figuratively and physically with strong evidence continuing to stack up against the industry in the shape of widely publicised accounting scandals of company’s such as […]
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Technology-driven audit: The new era of data extraction

In this article, Engine B’s Head of Audit and Ethics, Franki Hackett, explains why quality data and data extraction tools are the key to executing an effective digital audit. It’s been clear that getting good quality, well-organised data has been the main barrier to unleashing technology-driven audit for some time. Firms have tried building their […]
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Microsoft and Engine B: Open-Source Common Data Models

Microsoft Common Data Models “If everyone is moving forward together, then success takes care of itself.”  -Henry Ford Many industries face the same data challenges. Far too often we tackle these challenges alone, choosing to create siloed solutions to shared problems rather than opting for a more collaborative approach. But why? When we work collaboratively, […]
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How AI-driven fraud detection tools lend themselves to the new audit reform

Today’s article in the Financial Times ‘UK directors face new liability demands under major audit reform’ (February 5th, 2021), is yet another headline contributing to calls for a major shake up of the audit industry and puts further pressure on UK Directors to be personally liable for the accuracy of their company’s financial statements. The […]
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8 key benefits of Knowledge Graphs

Despite having been around since the 1980s, Knowledge Graphs have become something of a buzzword of late. With an influx of Knowledge Graph conferences in recent years and businesses like eBay and Air BnB publicising their use, it’s no surprise that everyone is talking about them and their ability to transform corporate practices. But, what […]
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Behind the scenes: An internship with Engine B

As part of Engine B’s #BehindTheScenes series, we’re taking a sneak peak into the daily lives of the Engine B team. Before starting her internship with Engine B, London born and bred, Bjeshka Hashani (22), graduated last year from the London School of Economics with a degree in Mathematics with Economics. Today we interview Bjeshka […]
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What makes a successful Common Data Model?

It’s estimated that between thirty to forty percent of an auditor’s time is spent interrogating, extracting and analysing data. Bringing together data from multiple systems and applications is an expensive and time-consuming task and without being able to share and understand the same data easily, each application or data integration project requires a custom implementation. These are just some of the reasons […]
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What does the future of audit look like in 2021?

The future of audit – what next? It’s safe to say most people will be pleased to see the back of 2020. A year that will undoubtedly go down in the history books as one of the deadliest and most challenging years in modern history. In the business world, no industry remained untouched by the […]
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Anomaly Detection for Professional Services

Understanding anomaly detection for Professional Services Over the past few decades, we have witnessed the exponential rise of Machine Learning (ML), the introduction of Deep Learning Techniques and the dramatic improvement in the analytical capabilities of software. The advancements made in these technologies are now enabling better anomaly detection and subsequently unlocking new opportunities for […]
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The key differences between structured and unstructured data

The key differences between structured and unstructured data According to Gartner, an estimated 20 percent of today’s data is structured, while the remaining 80 percent is unstructured. At Engine B, the Industry Common Data Models and Knowledge Graphs we are developing are unique in that they enable the interrogation and analysis of both structured and […]
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What is the value of the Audit Common Data Model?

What is the value of the Audit Common Data Model? Working with partners such as Microsoft, thirteen audit firms, academic institutions and supported by the Institute of Chartered Accountants in England and Wales (ICAEW), Engine B has created a new standard for the data that auditors can use ensuring completeness and accuracy – an Audit […]
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Women in tech – what should I know?

Women in tech – what should I know? As PwC revealed in their 2017 report, ‘Women in Tech; Time to close the gender gap‘, only 23% of people working in STEM roles in the UK were female, and a measly 5% of leadership positions in the technology industry were occupied by women. Unfortunately, three years […]
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Deriving knowledge from Knowledge Graphs

Deriving knowledge from Knowledge Graphs The only true wisdom is in knowing you know nothing. -Socrates The word ‘knowledge’ is a word used so often in our daily lives, without a universally accepted conceptual reference. The terms, ‘data and information’ and ‘information and knowledge’, are often used synonymously. However, as argued by Min Chen and […]
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Audit ethics and technology – what is it?

Audit ethics The role of technology in audit The audit profession is beginning to get to grips with the practical implications of new technology. According to Sage, 58% of accountancy professionals are expecting to automate some tasks using Artificial Intelligence (AI) within the next three years. And where the rest of the profession leads, audit […]
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What is a Common Data Model?

What is a Common Data Model? Many of today’s organisations have numerous applications and systems that all perform different functions. From Enterprise Resource Planning (ERP) systems to Customer Relationship Management (CRM) applications, and accounting systems – typically these systems exist in silos. In addition to siloed systems, organisations usually have spreadsheets, emails and other documents. […]
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12 lessons learned from 1 year in business

Engine B – 1 year in business Regulation is a driver for innovation In the world of audit, regulators are pushing to open the market to greater competition to increase the quality of services. These regulatory drivers mean the audit industry must change to provide digitised services to clients. These regulations have been a key […]
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