Tools and methodology

Horizon is the innovative methodology used in audits by Grant Thornton member firms. This is founded in state-of-the-art technology and is a proprietary method designed to meet the needs of companies of all kinds. Horizon enhances the way in which audits are performed and communicated. It complies with International Standards on Auditing and is updated as new standards are issued. It uses two proprietary software applications.

Explorer
Explorer enables audit teams to identify areas of risk. It indicates where misstatements in the financial statements are more likely to occur and generates audit programs tailored to specific situations.

auditCARE
Internal controls are an organisation's main means to manage risks. But are those controls ever tested? Managers increasingly need to give evidence about the controls and auditors in turn have to evaluate management's assessment. The auditCARE technology is a crucial aid in this process.

It is a software tool that interprets, documents, evaluates and tests clients' internal controls. It also allows the audit teams to comment on ways to strengthen internal controls. This can range from a full Sarbanes-Oxley internal control audit through to specific areas of concern in a small company.

Global consistency
The approaches described here are used by Grant Thornton member firms around the world. Audit teams therefore avoid the need to reconcile documentation from a patchwork of different tools. A high level of partner involvement further ensures consistency and quality.