Data from China Academy of Information and Communications Technology shows that from 2012 to 2021, the scale of our country’s digital economy grew from 11 trillion yuan to 45.50 trillion yuan, accounting for 39.8% of GDP from 21.6%. How to make good use of the value of data elements in the explosive growth of information is not only an important issue in the construction of "Digital China", but also a major goal for various industries to achieve digital transformation. These changes also bring opportunities and requirements for change to industries closely related to data such as finance and auditing.
At present, audit has become a key tool of corporate governance, and "letter" as a powerful audit evidence is still mainly paper, and there are risks of tampering and loss in the process of exchange and preservation. The digital transformation of audit is imperative.
Based on security compliance, financial intelligence sharing builds audit ecosystem digital intelligence infrastructure
For Financial Institution Groups, Accounting Firms, Enterprises, and Certified Public Accountants, the core premise of digital auditing is standardization and standardization.
In order to promote the digital governance and high-quality development of the audit industry, the Ministry of Finance, the People’s Bank of China, the State-owned Assets Supervision and Administration Commission of the State Council, the China Banking and Insurance Regulatory Commission, and the Securities Supervision Commission jointly issued the Guiding Opinions on Promoting the Digitalization of Letter Certificates of Accounting Firms in 2020, calling for steady progress in the digital construction of letter certificates of accounting firms and banks.
In 2021, the "14th Five-Year Plan for Accounting Reform and Development" clearly stated that it is necessary to accelerate the digital transformation of auditing from informatization to digital technology.
In August 2022, the "Implementation Plan for the Theme Activity of the" Digital Construction Year "of the Certified Public Accountant Industry" was officially released, and the plan proposed to support the construction of the correspondence information system. In accordance with the principles of "safety and control, public welfare attributes, standards and specifications, openness and compatibility", the China Certified Public Accountants Industry Association will concentrate resources to promote the digitization of correspondence certificates, and cooperate and support the construction of third-party correspondence information systems. The plan also proposes to explore the construction of a multi-disciplinary industry digitization construction organization system and coordination mechanism with the diverse participation and collaborative linkage of various entities such as regulatory departments, public interest associations, firms, and third-party service agencies.
Based on the understanding of relevant guidance and insight into industry pain points, Caizhi Sharing (Beijing) Technology Service Co., Ltd. (referred to as Caizhi Sharing) has always taken "security, compliance, intensive and efficient" as the top-level strategic guidance since its establishment in 2017, focusing on the development and application of blockchain, 5G, artificial intelligence, big data, cloud computing and other technologies, and has realized full-link digital empowerment in e-mail, logistics collection, talent training, RPA digital staff, finance and taxation consulting and other fields.
The digital solution of Caizhi Shared has improved the level of supervision and analysis capabilities, and has also produced many unexpected effects. For example, through the management structure of multi-role settings, Caizhi Shared can layer the responsible persons in accordance with relevant laws and regulations, and different audit units and audit roles can log in on demand, and the whole process can be traced back; by merging multiple functions of RPA, it realizes function points such as picture character recognition, voice and text translation, and intelligent filling. It can also simulate workflow, automatically fill in accounting, reply letters, etc., and greatly improve the efficiency of letter reply work. Through customizable standardized electronic templates, batch letter making, automatic storage, and global universal use become a reality, making the audit process a closed loop.
In the past five years, Caizhi Shared has continuously increased its investment in technology research and development, especially with Professor Zheng Zhiming, an academician of the Chinese Academy of Sciences, as the chief scientist, and the deep support of Hongchain Technology’s Internet of Things + full supply chain SaaS platform, Caizhi Shared’s technology applications in the fields of distributed trusted systems, blockchain, cryptography, privacy protection, etc. have been further strengthened, and it has more than 40 independent intellectual property rights. Effectively improve the efficiency of audit procedures, improve the quality of accounting information, reduce manual repetitive workload, and identify corruptive practices with digital capabilities.
In addition to the improvement of digital capabilities, the "independence" and "security" of the electronic confirmation letter platform have also been widely concerned by the China Certified Public Accountants Association and accounting firms. The i-letter platform provided by Caizhi Sharing is a third-party letter platform that is completely independent of the audited unit, the certified unit, and the accounting firm. The platform has obtained the "Ministry of Public Security Information System Security Level Protection 3.0 Certification", the only one in the domestic audit industry to obtain the Academy of Information and Communications Technology Trusted Cloud Enterprise SaaS Service Certification, and together with China Mobile, China UnionPay, JD.com, Alibaba Cloud, Huawei Cloud, Inspur Cloud, Kingsoft Cloud and other 17 domestic first-class enterprises have become the first to pass the Trusted Cloud as a Service security certification.
Taking the 5.0 version of i as the touchpoint, Caizhi shares the full link of deeply empowered audit ecology
Based on continuous technological development, Caizhi Shared has created a safe and reliable inter-industry recycling system for the audit ecosystem, and appeared at the 2022 China International Trade in Services Fair (referred to as the Service Trade Fair) as "the only information technology service provider participating in the audit industry".
At the launch of the results conference of the 2022 Service Trade Conference, under the joint verification of the China Certified Public Accountants Association, the Beijing Certified Public Accountants Association and many cooperative institutions, the "i-letter 5.0 version" made a big appearance. The product features of "paper-letter parallel use" are eye-catching. The advantages of high safety and reliability, zero cost in the center, and one-click manuscript can help the audit industry achieve a true "electronic letter, digital letter".
Taking the 5.0 version of i-letter as the touchpoint, Caizhi Sharing also showed the ability to support the entire chain of audit ecology empowered by the four major businesses of i-letter, i-excellent delivery, RPA digital employees, and iStudy training center in digital scenarios, attracting extensive attention and discussion in the industry.
Among them, i Letter is a third-party smart letter service cloud platform built and operated by Caizhi Sharing according to law, which can provide the audit industry with digital capabilities such as electronic, digital, and multi-identity registration and use of the whole process; i Excellent Send is a postal platform built by Caizhi Sharing based on efficient logistics services and support for enterprise role allocation. It realizes functions such as batch import, confidentiality authorization, and efficient settlement for units and individual users with high state-owned or confidentiality requirements and high-frequency sending of documents and items; RPA digital employees are based on RPA + AI technology, which can realize intelligent functions such as bill identification, intelligent reply, exchange rate entry, and efficient reconciliation, allowing salespeople to liberate from basic tedious work; i Study training center is authorized by ISACA (International Information System Audit Association), financial Through cooperation with internationally renowned professional institutions, institutions of higher learning, governments, and accounting firms, Smart Sharing cultivates a group of professionals who are not only proficient in financial accounting, auditing, and taxation, but also master the complex knowledge structure of information systems, network technology, and computer application technology.
The audit industry is not just a service, but also a high standard of trust. Through the strong alliance of strategic partners in multiple fields, Caizhi Sharing is creating Strategy and Development Ideas for the audit industry. At the conference of the results of the Service Trade Council, Ms. Zhang Liwen, the founder of Caizhi Sharing, held an on-site signing ceremony with more than ten industry high-quality associations and enterprises. Including Hainan Certified Public Accountants Association, Jilin Certified Public Accountants Association, ISACA International Information System Audit Association; Lixin, Rongcheng, Daxin, Zhongxing Caiguanghua, Zhongtianyun 5 well-known accounting firms, as well as China Building Materials Group Finance Co., Ltd., AVIC Plaza Industrial Group Finance Co., Ltd., China Post Express Logistics joint stock company, Jinwang (Beijing) E-commerce Co., Ltd. Well-known enterprises, including auditing, e-commerce, finance, logistics and other industries. Representatives of China Audit Zhonghuan, China Securities Tiantong, Zhongqin Wanxin, and Zhongtianheng Accounting Firm, which have signed cooperation with Caizhi Sharing, also attended the release of the 5.0 version of the i-letter.
Taking digital construction as a breakthrough point, financial intelligence sharing actively assumes corporate social responsibility
In terms of results, digital audit is of great significance for improving the value and utility of information and data. Accounting firms, enterprises, and Financial Institution Groups can not only use this to sort out the data information of previous years, but also carry out targeted cross-domain and cross-business correlation analysis and comprehensive comparison, thereby eliminating hidden risks and making more accurate judgments on enterprise operations.
Financial Intelligence Sharing takes this as the original intention of empowering the industry, and is committed to promoting the application of a new generation of information technology based on cloud computing, big data, picture recognition, artificial intelligence, blockchain, and the Internet of Things in the audit ecosystem. Under the background of the "14th Five-Year Plan" and the 2035 Vision Outline and "carbon neutrality", focusing on the paperless intelligent reply, comprehensive talent training, and green ecological creation of the audit industry, the ESG Strategy Committee was established to promote the audit industry to achieve green digital transformation and achieve high-quality development.
Wang Jin, chief operating officer of Caizhi Sharing, said that the "14th Five-Year Plan" is the starting point of a new journey to build a modern socialist country in an all-round way, and carbon neutrality is an inherent requirement for high-quality development. The digital transformation of the audit industry does not stop at the electronic form, but should be a series of changes in audit concepts, audit technologies and audit results. Caizhi Sharing will continue to enrich audit perspectives, improve audit efficiency, and promote the construction of "Digital China".
"In the face of sustainable development issues, we also need to think from a global perspective. For example, in the future, the measurement based on the" carbon footprint "of enterprises may appear in the financial statements. Will the audit industry add" carbon audit "? How to formulate relevant audit standards? These are the key directions of the Financial Intelligence Sharing Association. We also welcome relevant ecological enterprises to actively communicate with us to jointly promote the high-quality development of the audit industry in the context of" double carbon "."
Under the wave of digitalization, the audit industry is ushering in the transformation of production methods and governance methods. The digital intelligence platform represented by financial intelligence sharing continues to stimulate the vitality of various innovative elements, and empowers the audit industry with more inclusive, convenient, high-quality and efficient digital services. High-quality development.
