Robotic Process Automation for the Extraction of Audit Information: A Use Case

SUMMARY The reconciliation of audit evidence to the subject matter is a key and recurring procedure. Before reconciling information, data needs be extracted from matter, which often in Portable Document Format (PDF). Reconciliations are task for every new version matter. Large firms typically “offshore” simple repetitive tasks such as reconciliations shared service centers. Offshoring however comes at expense coordination costs, delays process, challenges regarding liability risk auditor. This paper presents an open-source algorithm extract (draft) annual reports (PDF files) using Python automate, rather than outsource, extraction reconciliations. resulted significant time saving large Dutch asset management firm. Researchers apply minimize hand-collection financial statement data. Data Availability: this publicly available. JEL Classifications: M42; G23; G29.