In today’s fast-changing business environment, the critical need for internal audit and finance teams to adopt artificial intelligence (AI) for enhanced audit and finance transaction risk analytics is more pressing than ever. But how can you be sure your team is ready to leverage AI to its fullest extent? MindBridge’s comprehensive 7-point AI-readiness assessment is … Read more
Journal entry testing is a required audit procedure that addresses the risk ofmanagement override of controls. This guide is designed to help audit methodology leads understandthe use of anomaly detection in journal entry testing in accordance with: This guide also includes some basics of dealing with sub-populations and samples.
Due to historical computing power limitations, the risk assessment process has been a theoretical exercise that lacked actual data representing current year operations. Leveraging new technologies, such as MindBridge, auditors are now able to introduce data earlier in the audit process. The actual data of the current period helps shape and deepen an auditor’s understanding … Read more
An accountant’s objective in a review engagement is to obtain limited assurance, primarily by performing inquiry and analytical procedures, about whether the financial statements as a whole are free from material misstatement. This objective enables the accountant to express a conclusion on whether anything has come to the auditor’s attention that causes the auditor to … Read more
