When it comes to protecting an organization’s financial integrity, both internal and external audits play critical roles. But they’re not interchangeable—and understanding their differences is key to maximizing their value. This blog breaks down the distinction and explores how modern audit teams are using AI to bring internal and external functions closer together than ever … Read more
Internal Controls Over Financial Reporting (ICFR) refers to the framework of controls, policies, and procedures that ensure the accuracy, reliability, and integrity of a company’s financial statements. These controls are designed to safeguard against material misstatements—whether from fraud, error, or process failure. At its core, ICFR ensures that financial statements are prepared in accordance with … Read more
Internal control checklists have long been a cornerstone of governance and compliance—guiding organizations through key processes, policies, and risk areas. But in a world where the volume of data, regulatory pressure, and financial complexity have exploded, the traditional checklist is no longer enough. It’s time to evolve your internal control framework from static oversight to … Read more
The Role of Data Analytics in Internal Audit Internal audit is no longer just about compliance and risk mitigation—it has become a strategic function that safeguards business integrity and enhances operational efficiency. Today’s internal auditors are expected to manage increasingly complex financial landscapes, address rising regulatory pressures, and provide continuous risk insights. Traditional audit approaches—rooted … Read more
The IIA GAM 2025 Conference brought together the brightest minds in internal audit, finance, and risk management. Over three days in Orlando, industry leaders tackled the biggest challenges facing audit teams today—rising financial complexity, growing regulatory pressure, and the undeniable need for AI-driven transformation. FedEx’s Jamie Bailey Meziere and ExxonMobil’s Beth Casteel led insightful discussions … Read more
In an era where financial complexity grows daily, internal audit teams are facing heightened pressure to maintain compliance, manage risk, and ensure accuracy across vast datasets. Traditional audit methods, while reliable in the past, struggle to keep pace with the evolving demands of modern financial and operational data. AI-powered internal audit software, like MindBridge’s innovative … Read more
Reflecting on the dynamic and transformative discussions at the IIA International Conference 2024 in Washington, DC, it’s clear that the role of internal auditors is evolving rapidly. Here are five crucial insights from the conference that highlight the future direction of the internal auditing profession: 1. The imperative of resilience and adaptability: Astronaut Michael Massimino’s … Read more
In the rapidly evolving landscape of financial risk and compliance, the integration of Artificial Intelligence (AI) is not just a trend—it’s a revolution. During a recent MindBridge webinar, Ernest Anunciacion, Head of Product Marketing at MindBridge, and Harold Silverman from the Institute of Internal Auditors dove into the transformative impact of AI on the auditing … Read more
The accuracy of financial data is not just an operational need but a strategic imperative. Clean financial data is crucial for reliable financial analysis, accurate reporting, and sound decision-making. Finance teams need to be the trusted source of truth. This allows the business to maintain consistent compliance, manage risks, and optimize performance in business operations … Read more
Explore how Align Technology is revolutionizing internal audit with advanced AI tools like MindBridge. Perfect for industry professionals seeking to modernize their audit departments.
As the complexity of data analysis increases, preemptive vs. reactionary capabilities become paramount. Data anomaly detection can help.
Anomaly detection is a powerful technique for detecting fraudulent transactions and behaviors, thanks to financial institutions’ ever-increasing amounts of data.
