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AI and technology

Audit in the age of COVID-19: A guide

In today’s world of COVID-19, accounting firms can be pressed by clients for short-term basic deliverables. There are still expectations for getting audits completed as pragmatically as possible per the standards along with the new norm of engaging clients virtually and securely. I believe this challenge presents an opportunity for firms to re-position themselves for

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digital train
Audit

Streamlining your going concern audit procedures

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 operations. Transparent and accurate financial

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internal audit and risk
Finance function

Embracing technology as a CFO in 2020

CFOs continue to be one of the most important resources to their business. In the last 20 years or so, they have spent countless hours working through regulatory and reporting changes, implementing new systems, and partnering with other leaders in the business on analytics. Through all this, they also have to come up with new

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Baldwin CPAs
Audit

Baldwin CPAs enhances technology-first services with MindBridge

In the lead up to their panel presentation at Influence 2020, we connected with Myron Fisher, CPA, CGMA from Baldwin CPAs, PLLC (Baldwin) to talk about their approach to technology and audit. Baldwin is experienced and qualified to provide accounting services to a wide variety of businesses and industries. The firm has concentrations in the industries of construction

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internal audit assessment
Community

How to add more value to your final audit meetings with clients

Audit services are traditionally viewed as compliance requirements by regulators or a way to instill confidence with a company’s investors. As a result, the focus of the CFO might shift to minimizing costs and efforts in order to comply with the required audits. During the limited interactions with the audit committee or the company’s CFO,

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audit sampling tools
Community

Giveaway: Win a digital assistance package for your firm

The world is changing and we’re all looking for ways to navigate the current crisis landscape together. That’s why we’ve partnered with Future Firm, Xero, Practice Ignition, Karbon, Float, and Ron Baker to offer you a chance to win a Digital Firm Assistance Package! Valued at over CDN $13K, the Digital Firm Assistance Package provides the support, tools, and

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audit sampling techniques
AI and technology

Quality audit vs. efficiency: How technology bridges the gap

As someone who has worked in big-firm transformational change for quite a while, I’ve often reflected on the perils of success and its ability to stand in the way of innovation and agility. We work really hard in transformation teams to articulate URGENCY, and NECESSITY, and ABSOLUTE DIRE NEED to transform. But no matter how

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ICAEW Technology Accreditation for MindBridge
Audit

Why the ICAEW Technology Accreditation Scheme matters to you

It should come as no surprise that the accounting software market is exploding. With increasing demands on chartered accountants to be smarter, faster, and more data-driven than their peers, we’re seeing massive growth in available tools, and the leading-edge technologies behind them. This new landscape means that we’re in an age of faster time-to-market, constant

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information about auditor
Audit

How auditors use AI-driven financial ratios to understand risk

In times of great uncertainty, we all look for a crystal ball. Also known as an orbuculum or crystal sphere, legend has it that a crystal ball is a fortune-telling object. But the use of crystal balls to predict the future is pseudoscience and there’s no evidence that they can validly predict the future. Time

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COVID-19 direction
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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