Our stories
Using drones in a global first for our audit practice
In a global first, we undertook a stock count audit using a drone to enhance audit quality and efficiency.
Setting the scene
We are constantly looking at ways we can reimagine the audit process to improve quality and outcomes. Our economic modelling report, Skies without Limits, showed that drones have the potential to not only improve UK productivity, but also offer significant net cost savings for businesses to the tune of £16bn by 2030. With audit client RWE, we had the opportunity to trial the predicted benefits of drones for ourselves.
RWE has a 400,000 tonne coal reserve in South Wales and while the traditional stock count method remains reliable, we were keen to explore ways of deploying emerging technologies to challenge the traditional methods and improve efficiency and accuracy. In this case, drones made it possible to trial a more efficient service which has the potential to save time, while allowing us to deliver greater insight and undertake the work more safely.
How we helped
Drones have a clear use in stock count audits: they can often capture more accurate data and from hard to reach places; they also minimise day-to-day disruptions and reduce costs associated with shutting down parts of a plant for the audit to take place.The drone was able to collect data which was able to replicate a ‘digital twin’ of the coal heaps for better data analysis.
This is a clear example of our Intelligent Digital approach: balancing the right technology and data analysis insight from our teams together with our knowledge of the client’s business to enhance audit quality.
“This trial with RWE is the first time we have used drones for audit stock count purposes. It demonstrates the powerful new perspective that we believe drones can offer for businesses across a wide variety of industries. Sectors with large assets in hard-to-reach areas are the most obvious starting points for expanding this kind of work further - from mining to agriculture and forestry.”
Making a difference
A good quality audit relies on good people. In this instance, having our auditors work alongside some of the firm’s technologists, who bring with them a new approach, mindset and areas of expertise, had clear benefits for the quality of the audit.
Using drone technology for this audit had significant benefits. It took just half an hour to measure the volume of the coal pile, rather than the four hours it can take climbing over the coal pile, and reduced health and safety risks accordingly. Accuracy was improved; we captured around 900 data points per cubic metre with impressive precision, compared to around 1,200 readings traditionally taken across the whole site. And the process was far less disruptive to the client’s normal operations.