Deloitte develops audit technology for smaller firms

by Auvenir

From Accounting Today - Pete Myers, CEO at Auvenir, and Chris Thatcher, Leader of Global Innovation for the Audit Practice at Deloitte talked to Michael Cohn at Accounting Today about Auvenir and the future of audit. 

Deloitte global audit and assurance innovation leader Chris Thatcher said he was tasked by his boss with coming up with the kind of technology that a startup might develop in competition with Deloitte. “One of the things he was quite concerned about, that kept him up at nights, was a couple of guys in a garage thinking about how you could do audit completely differently to how we would have done it traditionally in the past,” he said. “My boss basically challenged me to think about defending ourselves from disruption.”

His first hire for the new venture was Pete Myers, who became CEO of Auvenir. “We hired Pete to essentially build a team of startup guys, people from an entrepreneurial background and a technology background,” said Thatcher. “We did think quite long and hard about whether we should actually bring in some of the Deloitte auditors, but one of the things we realized early on was that at least in the early stages of the company we wanted to keep it autonomous, so we purposely did not bring in the Deloitte auditors other than from an advisory capacity just to make sure this could be ramped up just as quickly as it could be ramped up. But we’ve largely kept the business to operate as independently as we possibly could and create an independent venture which is now being launched to market as Auvenir.”

Read the full article at Accounting Today