AudITech

Automating ITGC Controls for AwS Microservices

Fiverr and PwC

Clients

Seee how Fiverr Automated their ITGC Audits with AudITech to achieve SOX compliance

Code Repository

ithub seamlessly integrates with the AudITech platform for full ITGC Automation

ITMS

Monday.com seamlessly integrates with the AudITech platform for full ITGC Automation

HR

bob easily integrates with AudItech for a plug and play solution

Challenge

Fiverr, a NYSE-listed company with a large global marketplace, faced the challenge of managing complex IT General Controls (ITGC) across numerous systems, including their self-developed microservices platform. With over 4.3 million active buyers and a significant employee base, ensuring effective IT controls was crucial for financial statement accuracy. However, conducting ITGC audits was resource-intensive, requiring input from various departments and external advisors. There was a need to improve the efficiency and effectiveness of IT controls while streamlining audit processes.

The implementation of AudITech’s automated ITGC controls solution yielded significant improvements for Fiverr. In the first year alone, they saw an 80% reduction in the testing efforts required for Change Management controls.

Solutions


Fiverr, a NYSE-listed company with a large global marketplace, faced the challenge of managing complex IT General Controls (ITGC) across numerous systems, including their self-developed microservices platform. With over 4.3 million active buyers and a significant employee base, ensuring effective IT controls was crucial for financial statement accuracy. However, conducting ITGC audits was resource-intensive, requiring input from various departments and external advisors. There was a need to improve the efficiency and effectiveness of IT controls while streamlining audit processes.


Results

The implementation of AuditTech’s automated ITGC controls solution yielded significant improvements for Fiverr. In the first year alone, they saw an 80% reduction in the testing efforts required for Change Management controls. Additionally, the automated platform provided comprehensive coverage of the tested population, achieving the goal of 100% coverage. This not only improved the efficiency of audit processes but also reduced resource utilization and enhanced the overall effectiveness of IT controls. Fiverr successfully transitioned from a mindset of viewing audits as one-time events to embracing ongoing monitoring as a fundamental aspect of their control environment, with AuditTech playing a pivotal role in this transformation.

Below is a table illustrating the outcomes of the conventional manual audit in comparison to the automated audit facilitated by AudITech’s solution

Traditional Audit 

FY 2021

Automated Audit 

FY 2022

Scooping relevant change management population

5 hours

5 hours

Interim testing: Extract, analyze and document 25 Samples

20 hours

0.5 hours

Year-end testing: Extract, analyze and document 25 Samples

20 hours

0.5 hours

High-Risk specific testing: Extract, analyze and document 10 Samples

5 hours

Analyze and communicate findings

5 hours

1 hours

Automation substantive procedures

 

5 hours

Total Efforts

 

55 hours

12 hours

Population examined


50 / 1637 (3%)

1808 / 1808 (100%)

Achieve full IT-audit
Independence & peace of mind

We’ll guide you through your first IT-audit in minutes. Learn to create fast, official, trusted ITGC reports recognized by IT-auditors

"*" indicates required fields