KPMG Clara

In Sep. 2017, KPMG announced its plan to introduce the world's first global cloud based Big Four audit platform on Microsoft Azure. In my understanding, its promotional material promises the conduct of analysis for audit purposes on 100% of the data population plus real time collaboration between the audit firms and their clients.

In my view the success of this will largely be driven by the willingness of KPMG's audit clients to allow their data to be put on the 'cloud' and the benefits they see either in terms of reduced administrative overhead to face an audit or the audit fees themselves.

Given below is a link to a PDF document that explains what the buzz is all about.

https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2017/05/kpmg-clara-a-smart-audit-platform.pdf

Now that a year has gone by since the announcement, it would be interesting to learn about its adoption rate. Especially given the data privacy worries that have led to GDPR type of legislations.