Audit
KPMG and MindBridge forge global alliance to transform digital audits
KPMG and MindBridge form global alliance, transforming digital audits with enhanced risk detection and next-gen AI audit technology
April 23, 2023
Ai Auditor
AI and technology
Will DAS (the Dynamic Audit Solution) change the audit industry?
The audit industry has seen a bit of a shakeup in the past few years. New technologies, regulator crackdowns, big firms acquiring and merging, and a general push for improved processes and a review of age-old standards are all signs of new things on the horizon for our industry. But while there was a lot
February 5, 2021
AI and technology
ISA 315 revised: What it means for risk assessment procedures, and data analytics
ISA 315 (revised) and Data Analytics: Risk assessment procedures reimagined The revised standard has been published as of December 2020, and you might be wondering what impact it has on your firm’s risk assessment procedures and how you can address the requirements. There are many useful sources of information on the changes, notably the IAASB’s
January 19, 2021
AI and technology
From person to machine: The role of audit data analysis
Data analysis is a necessary skill for accountants. Are you ready for it? Find out what it takes, and what tech can help you along the way.
December 16, 2020
AI and technology
Tools and tips for the audit busy season
Audit busy season is a drain on auditors everywhere. With the added challenges of remote work, the industry is clambering for help. Our blog as you covered.
December 8, 2020
AI and technology
Leveraging AI for your substantive procedures for Accounts Receivable and Accounts Payable
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.
September 20, 2020
AI and technology
A better approach to journal entry testing: Audit analytics automation
When it comes specifically to journal entry testing, most auditors today have been using antiquated approaches and sampling techniques.
September 7, 2020
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
July 29, 2020
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
July 22, 2020
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
July 14, 2020
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.
July 2, 2020
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
June 18, 2020