EngineB says that they are about bringing the "digital revolution to professional services". EngineB calls for a common data model. There are three videos on their home page that explain what they are up to. You can follow them on LinkedIn here.
This 30 minute video helps you better understand what EngineB is up to. Seems like Microsoft is behind what EngineB is doing. In the video, the CEO of EngineB says that "every accounting firm that you have ever heard of is involved". He says that 69% of an audit can be automated and that we can move to "continuous audit".
EngineB is not trying to change what companies do internally. Their focus is when you have to interact with an external party you can use a common format making information exchange more effective and efficient.