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2017

auditing team
Audit

How KNAV is Reimagining Audit Efficiency with Artificial Intelligence (AI)

Today’s audit environment is more dynamic, complex and growing than ever before concerning financial data.  The challenges with globalization, the growing Internet, Big Data and ERP systems with multiple touch points fuels the growth of financial data and challenges the ability of professional accounting firms to assert high-levels of confidence in performing audits. However, with

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manage audit
Audit

How a small public accounting firm plans to use Artificial Intelligence (AI) to power audit assurance and risk analysis

Compared to humans, new technologies like Artificial Intelligence (AI) are ideal for automating mundane tasks related to auditing. AI can also verify every transaction and codify human knowledge, enabling auditors to review, analyze and audit more effectively. As big firms adopt AI in their auditing processes, smaller firms are also realizing the value and becoming

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business auditor
AI and technology

The Impact of Artificial Intelligence and Machine Learning on Financial Services and the Wider Economy

Recently I was invited to participate as a speaker in the Official Monetary and Financial Institutions Forum (OMFIF) podcast focusing on Artificial Intelligence (AI) and machine learning. OMFIF is an independent think tank for central banking, economic policy, and public investment – a non-lobbying network for best practice in worldwide public-private sector exchanges. This podcast aimed to

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auditing services
Leadership

Congratulations, you have been entrusted to be the CEO… Now what?

Becoming a CEO is like becoming a new parent, there is no true user manual to guide you through the unique challenges you will face along the way. You can read a multitude of books about “how to” raise a child, however, there will inevitably be unexpected curve balls beyond what you already know and

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assurance audits
Audit

Elevating Reasonable Assurance with the MindBridge Ai Auditor™

With the audit season fast upon us, a person stops to think about ‘reasonable assurance’. Audit standards such as AU-C 240, CAS 240 and ISA 240 stipulate that “…an auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.” ‘Reasonable

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audit for company
Audit

Making business sense by automating repetitive audit tasks with machine learning and AI algorithms—An interview with Angelique Koopman

What better way to start the first post in the “CPAs” series than with a world-class lady. Angelique Koopman, Partner Audit Innovation at Baker Tilly Berk, has been following MindBridge since our early days and recently visited our office. We could not resist asking her a lot of questions. In this series, we will interview

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assurance and auditing
Audit

What’s the big deal about the MindBridge Ai Auditor™?

I was enjoying a long successful career of 19 years in the business intelligence and the fintech industry when I met Eli Fathi, CEO of MindBridge Analytics Inc. This is when he introduced me to the Association of Certified Fraud Examiners (ACFE), ‘Report to the Nation’s’ report. On page 21 looking at detection methods I

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audit and artificial intelligence
Audit

Statistical sampling- the intelligent way

Auditors love statistical sampling and so does the MindBridge Ai team. Why wouldn’t we—statistical sampling uses the laws of probability to measure sampling risk. We truly believe that statistical sampling largely outperforms judgment sampling. Don’t get us wrong—the experience of a Partner is undisputed and their ability to focus the audit and identify areas of risk

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Using MindBridge on a laptop
Audit

How MindBridge is Increasing Auditor Assurance

Throughout my investing and business life, I’ve been amazed by the number of accounting scandals and re-statements that have occurred. The issue of regulatory oversight is raised in the press, but even with increased enforcement and higher penalties, a new accounting issue is never far behind, and it’s continued to get worse. Just look at

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