20Sep

Leveraging AI for your substantive procedures for Accounts Receivable and Accounts Payable

September 20, 2020 Stefano Colaiacovo, CPA, CA 5

Artificial intelligence (AI) and machine learning (ML) technologies can streamline traditional audit procedures for Accounts Receivable (AR) and Accounts Payable (AP) in audits of financial statements. This blog will consider applications of AI and ML technologies using the MindBridge platform for both substantive analytical procedures as well as detailed testing...

29Jul

How the new SAS-142 audit evidence standard embraces technology and automation

July 29, 2020 Stefano Colaiacovo, CPA, CA 3

A new audit evidence standard has been released by the American Institute of Certified Public Accountants (AICPA) that includes significant updates around how technology and automation can be leveraged throughout the audit process. Here, we’ll examine this standard and some of the most significant examples of how the AICPA has...

18Jun

Improving audit risk assessments with AI-driven analysis of Accounts Receivable and Accounts Payable subledger data

June 18, 2020 Stefano Colaiacovo, CPA, CA 5

The cornerstone of well-planned and high-quality audit engagements is a robust risk assessment process. Such a process is critical to identifying risks of material misstatement and their relative significance by providing a fulsome understanding of the entity subject to audit and the environment in which it operates. The nature and...

14May

Streamlining your going concern audit procedures

May 14, 2020 Stefano Colaiacovo, CPA, CA 2

In these challenging times, virtually all organizations are faced with disruptions to the status quo. Depending on the industry and profile of one organization to the next, these disruptions can range from creating slight instability in day-to-day activities to having a catastrophic impact on the basic viability and sustainability of...

19Mar

COVID-19 update: Effective audits & remote work

March 19, 2020 Stefano Colaiacovo, CPA, CA 2

COVID-19 — the coronavirus — has businesses around the world facing an unprecedented situation. First and foremost, we sincerely hope that you and your loved ones are safe and secure. Our current, shared situation certainly gives us pause and we recognize the importance of pulling through this together. This new...