What is Ai Auditor?
Ai Auditor quickly ingests and analyzes entire datasets, empowering you with deeper insights faster to perform an audit with a greater level of assurance.
Ai Auditor revolutionizes financial analysis as the world’s first and only AI powered auditing platform. Lightning fast, risk-ranked analysis on 100% of transactions, with zero scripting, means you can provide greater assurance than ever before, all while saving valuable time and resources. With Ai Auditor, cumbersome CAAT tools are a thing of the past, and with them go the associated risk of missing errors or fraud that may lurk in financial data.ts, and of course, all of the reporting and future functionality is always included with a standard subscription.
Using Ai Auditor can be broken down into the following steps:
- Access MindBridge
- Create an organization and an engagement
- Import your client’s data and map their chart of accounts
- Analyze the data and create the audit plan
How does Ai Auditor asses risk?
Ai Auditor uses a combination of statistical, domain expertise, machine learning, and cross-correlation tests to examine financial data and assess the risk of transactions and entries.
Ai Auditor’s control points
Control points, simply put, are algorithms that trigger across an entry or transaction that matches specific rules or circumstances.
As more control points trigger on a transaction, more risk will be applied to it. Higher risk transactions do not necessarily mean they are fraudulent, but rather that they are transactions of audit interest.
More on control points: