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Audit

COVID-19 update: Effective audits & remote work

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 working environment most likely means

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audit sampling method
Audit

AI for government finance: Understanding value & barriers

Klaus Schwab, the Founder and Chairman of the World Economic Forum, shares in his book, “The Fourth Industrial Revolution,” that artificial intelligence (AI) will perform 30% of corporate audits by 2025. While any estimate of change is just that, an estimate, the pace of change is governed by the benefits that result from the application

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function of internal audit
Audit

Getting ready for AI-powered audit in 2020

You’re in the minority if you haven’t heard of artificial intelligence (AI). Yet the accounting profession has a long way to go in terms of adoption. AI is a popular conversation piece for industry bodies such as the AICPA, CPA Australia, ICAEW, and PCAOB, and more firms are deploying the technology today than ever before. But most firm leaders still

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assurance audits
AI and technology

Our tips for artificial intelligence in accounting

A common thread among the advice given by Accounting Today’s Top 100 Most Influential people was exemplified by Alan Anderson of Accountability Plus: “Become technology sponges. Embrace technology and explore avenues that can positively impact what accountants do on a daily basis to help their clients.” With our unique experience in delivering AI-enabled auditing solutions to accountants around

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internal auditor role
Product releases

New Ai Auditor release: December 2019

Our latest release of MindBridge Ai Auditor introduces brand-new support for subledgers, enhanced ingestion workflow, an upgraded user interface, and more. Read on to find out what you can accomplish in this release! New user experience We’re proud to unveil a new, modern interface for Ai Auditor that has a stylish look and feel and brings

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Product releases

New Ai Auditor release: October 2019

Our latest release of MindBridge Ai Auditor is another leap forward, with plenty of great features to help auditors throughout the audit process. Keep reading to find lots to love about this release. Task creation and sample selection Auditors can select samples, either manually or by using our Intelligent Sampler, to stratify the population of financial

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audit sample selection
Community

MindBridge salutes our community: Cheryl Jensen

It takes a community to build and grow a company like MindBridge Ai. This ongoing series of articles highlights those leaders that are making an impact on our communities at large, and nurturing our technology ecosystem across industry, academia, and government. We honor community leaders who are: Committed to making a difference in the world

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audit ai
Product releases

New Ai Auditor release: August 2019

Our latest release of MindBridge Ai Auditor is another leap forward, with plenty of great features to help auditors throughout the audit process. Keep reading to find lots to love about this release. Enhancements to Libraries In the May release of Ai Auditor, we introduced the Library feature to provide further flexibility to administrators to tailor the work

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audit sampling techniques
Product releases

New Ai Auditor release: May 2019

Welcome to the “post-busy season” release of Ai Auditor, just in time for your Not-for-Profit audit engagements! Our new release of Ai Auditor includes a host of new features that enable more use cases, such as Accountant Reviews. This release includes several great features including: Libraries: Contains all the business logic needed to perform analysis within

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big data analytics in auditing
Audit

The auditor’s fallacy: The law of small numbers

Humans have used simple statistical sampling for millennia to make generalized sense of the world around us. Living in a resource-constrained world, statisticians gave emperors, surveyors, and accountants a simple workaround to the prohibitively intensive process of counting, checking, and validating everything. Sampling is the selection of a subset (a statistical sample) of individuals from

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ai audit software
Product releases

New Ai Auditor release: April 2019

MindBridge Ai Auditor continues to make improvements to deliver the best experience possible. For this release, we’ve made improvements to data ingestion, making it easier to get client data into the platform. User file format confirmation Data is the fuel that powers our machine learning, statistics, and rules-based analysis in Ai Auditor. Data loaded into the

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auditing profession
AI and technology

Democratizing financial and audit analytics with AI

PwC recently shared that in 2018 alone, 12 zettabytes of financial services industry (FSI) information was generated, but less than 0.5% was actually leveraged by businesses. This financial data explosion comes from an ever-increasing number of ERP and CRM systems employed by businesses and their partners, gathering and consolidating different payment, expense, inventory, and maintenance

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