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
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
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
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
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
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
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
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
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
To best prepare for the upcoming busy season using MindBridge Ai Auditor, we’ve prepared this list of key actions to take, based on feedback received from users and their clients. Take note, plan your actions, and if you have any questions, please don’t hesitate to contact us for help. Key actions Prepare your client and their data
The world is changing at a faster pace than ever, leading chief economist at the Bank of England, Andy Haldane, to state that the disruption caused by the ongoing fourth industrial revolution would be “on a much greater scale” than that experienced during the Victorian industrial revolution. Technology is evolving and infiltrating different industries each
As practical applications of artificial intelligence (AI) are new to the finance space, especially with regards to audit, it’s no surprise that the same questions come up across our expert-led webinars. To help you understand how AI is applied to audit, we’ve collected the most common questions and answers here, as provided by our V.P.
