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Person moving to the future of audit
AI and technology

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

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 explicitly considered the applicability of

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Man using MindBridge to access financial risk
AI and technology

Assessing audit risk during engagements

Three ways Ai Auditor strengthens your audit planning The determination of where audit risks of material misstatement lie is a critical output of the audit planning process. Usually, identifying those risks is based on the auditors understanding of their client and the client’s operating environment. Auditors can now rely on a data-driven approach to better

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Race with one person left behind
AI and technology

Don’t get left behind: A case for adopting accounting software

Accounting software trends have impacted the accounting profession in big ways. And in my view, one of the greatest analogies of this impact, and even of the way our team at MindBridge delivers value to our clients, comes from Sam Daish, Head of AI and Data Science at Qrious. A story of three types of businesses  In

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Moving squares versus circles
AI and technology

How AI and data can power an effective audit plan

An effective audit starts with a solid audit plan. While the overall audit strategy and plan can vary between clients, an auditor will usually establish risk assessment procedures and a how-to response for the risk of material misstatement. The challenge is that sometimes, even the most thorough and comprehensive audit plans can still have gaps.

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Improving audit risk assessment longterm
AI and technology

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

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 extent of these audit risk

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a complex amount of data put into a pattern
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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