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New user experience

With a new look and feel, the Ai Auditor experience is more streamlined and more effective than ever before. Our new sidebar can be opened and closed as you need it, with context-dependent elements to ensure you’re working with the right capabilities at the right time.

Support for accounts payable and accounts receivable

This release of Ai Auditor adds the ability to ingest and analyze single-sided subledger information to calculate risk at the financial line-item level. This includes new risk overview, trending, and vendor dashboards, new reports, and new Control Points that provide detailed analysis on subledger-specific anomalies and risks.

Guided data ingestion workflow

This release of Ai Auditor adds the ability to ingest and analyze single-sided subledger information to calculate risk at the financial line-item level. This includes new risk overview, trending, and vendor dashboards, new reports, and new Control Points that provide detailed analysis on subledger-specific anomalies and risks.

Ai Auditor

Previous releases

Task creation and sample selection

Auditors can select samples, either manually or by using our Intelligent Sampler, to stratify the population of financial data by risk rating. Creating tasks in Ai Auditor allows your team members to work collaboratively to investigate anomalies in your client’s data.

In this release, you can create tasks and leverage the Intelligent Sampler on individual line entries as well as transactions.


Intelligent Sampler

Auditors can select samples, by using Intelligent Sampler, to stratify the population of financial data by risk rating. In this release, you can now select random sampling to create a truly randomized sample from the population and you now have the ability to add Audit Area, Management Assertions, and sample name to the selection. You can also add multiple samples to the same population and we provide a visualization to illustrate the $ value of the selected samples for each risk bucket (high, medium, and low risk).


Audit plan

The audit plan is one of our many exports that provide sufficient and appropriate audit evidence to support the audit opinion. In particular, the audit plan provides a summary of items selected using Ai Auditor while preparing to perform a test of details.

In this release, we give you more control over the information exported to the audit plan with additional filters and enhanced export details.


Large transaction support

Transactions that contain a large number of entries can be present in financial data for a number of reasons, such as a daily point of sale summary where a number of “micro-transactions” are recorded into a larger “daily” transaction. These large transactions can limit your ability to assess and identify risk, so this release introduces the Smart Splitter to simplify the analysis.

The Smart Splitter decomposes each large transaction down to its matching entries, where each entry pair is identified by matching offsetting debits and credits. During the Review Data stage, we provide statistics of the file, including the number of transactions and their corresponding number of entries, to help you decide whether to use Smart Splitter or not.


Activity Report

Administrators can now track and collect user behavior to get a complete timeline of all user activities, answering the ‘who, what, when, where, and how’ of all actions. This helps administrators get precise information on critical events such as user logins, time of file load, time of analysis, and more.


Other 2019 updates

What’s new, in eleven minutes.

While the latest Ai Auditor updates include numerous new features and enhancements, this video provides an overview of the new functionality.

Catch a glimpse of:

  • Libraries
  • Not-for-profit support
  • NFP Libraries
  • Ratio Builder
  • Annotations and analytics export


Libraries allow you to customize Ai Auditor to suit any industry and type of client, from healthcare and automotive to public and not-for-profit organizations. With Libraries, you can manage and maintain the financial ratios needed for a specific type of analysis. In our next
release, filters and Control Points will be added to simplify the selection of settings for different types of analysis.

Libraries also give you the freedom to build up your firm’s unique AI analytics capabilities. By allowing you to define and save client and industry-specific AI analysis, your firm ensures consistency across all audit teams and creates competitive differentiation within the industry. In other words, Libraries let you capture your firm-specific expertise in AI and analytics to provide unique value to your clients.

Ai Auditor completeness check

Not-for-profit support

Not-for-profit (NFP) organizations have very different financial frameworks than for-profit, including donation and grant structures, fund allocations, and reporting requirements. To support private and public NFP engagements, Ai Auditor now helps you gain meaningful analysis and insights over material misstatements across all accounts.

Expanding on the existing MindBridge Account Classification (MAC), Ai Auditor now supports NFP concepts such as contributions, pledges, grants, funds, and restricted and unrestricted net assets. Bundled into two new Libraries named “NFP Library” and “NFP-Fund Library”, you get the analytics and reporting capabilities to dig deeper into a NFPs financial data while analyzing 100% of a client’s financial transactions.

Ai Auditor completeness check

New NFP Libraries

NFP Library: this Library has an account grouping structure to support NFP concepts, such as contributions and grants, and these new ratios:

  • Change in Net Assets
  • Operating Margin
  • Operating Reserve

The NFP Library includes this new Control Point:

  • Expense Flurry: flags periods of time in which the dollar value of expenses is higher than usual for the total expense.

NFP-Fund Library: this Library supports fund and program accounting, including a new account grouping structure and these unique ratios:

  • Change in Net Assets
  • Operating Margin
  • Operating Reserve
  • Defensive Interval
  • Liquid Funds Amount
  • Viability
  • Current
  • Fundraising Efficiency

The NFP-Fund Library includes these new Control Points:

  • Expense Flurry: flags periods containing unusually high expense amounts by determining an organization’s expected expense rate and identifying periods when expenses exceed this rate.
  • Fund Expense Flurry: flags periods of time in which the dollar value of expenses within a specific fund is higher than usual.
  • Interfund Transfer: flags transfers in which one fund’s assets are credited, and another fund’s assets are debited. The result is a net movement of assets from one fund to another
  • Split Expense (Single Transaction): flags sets of expense line items that may stem from a single expense being split across different funds within a single transaction.
  • Split Expense (Multiple Transactions): flags sets of expense line items that may stem from a single expense being split across multiple funds and posted to the ledger as multiple transactions

Ratio Builder

You can now create custom financial ratios to track trends for specific industries. These ratios can be defined for any account or account level within the account structure at the Library level.

Each custom ratio contains a ratio name and a numerator and denominator formula. Monthly account amounts, specific values, constants, and more can be used to build the ratio formula, including those defined in custom account groupings.

Ai Auditor completeness check

Annotations and analytics export

You can now document and export insights observed during audit planning to provide richer context and information in audit documentation. You can add annotations to graphs as you’re exploring trends and ratios in the Trending tab and view them all in the Annotations tab.

While exploring trends and ratios, users can add annotations to each graph from the Trending tab. Annotations, graphs, and the underlying data can be exported as a Microsoft Excel file for use in final reports and papers.

Ai Auditor completeness check

Financial ratio trend analysis

Financial ratio analysis is an essential aspect of every financial audit procedure. It is critical in revealing financial trends as they relate to the overall health of the business. Further to providing auditors with essential information, it also helps identify areas of the business that may require further investigation.

Ratios can help auditors identify weakness in the company’s operations and can also be used by management by taking necessary actions to overcome them.

Ai Auditor completeness check

Image: Ai Auditor Financial Ratio Trend Analysis: Click to enlarge

Ai Auditor currently offers a multi-year view of specific financial ratios plotted monthly, quarterly, or by the specified fiscal period. Ai Auditor currently includes a dozen different ratios from days sales outstanding to bad write-off to accounts receivable.

Filter Builder

With Filter Builder, auditors are able to create their own audit tests and logic, incorporating our AI, machine learning, and other algorithms, without needing any scripting knowledge. Furthermore these filters can be saved and shared with other members of your organization, empowering your organization to build upon their current audit test methodologies, easily preserve intellectual property, and provide new ways of competitive differentiation.
Examples include:

  • Filter by ‘monetary value’ to remove transactions that fall below materiality thresholds, such as filtering out transactions below $50,000 and greater than $1,000,000
  • Filter by ‘account hierarchy’ to create a list of certain transaction types, such as combining cash, foreign bank deposits, and domestic bank transactions
Ai Auditor completeness check

Image: Ai Auditor Filter Builder: Click to enlarge

New Transaction ID Generator: Running Total

As transaction IDs are essential to the machine learning analysis within Ai Auditor, custom sort has been introduced as an easy way to generate them when the original data set may not have enough information for automatic generation. By parsing the data row-by-row to determine the beginning and end of transactions, custom sort helps deliver better risk assessments and more comprehensive analysis to auditors.

What’s new, in three minutes.

While the latest Ai Auditor updates include numerous new features and enhancements, this video provides a rapid-fire overview of the “big four” of new functionality.

Catch a glimpse of:

  • Interim analysis
  • Completeness check
  • Multi-year analysis
  • Join us for a live demo or webinar and see Ai Auditor in action. See our

Completeness check

New completeness check functionality provides the option to load the opening and closing balances along with any general ledger analysis. Ai Auditor will identify if there is anything missing, and provide results of the analysis in the two new completeness check reports.

Ai Auditor completeness check

Image: Ai Auditor Completeness Check: Click to enlarge

Interim audit reviews

Ai Auditor now supports interim audit reviews, which help compress the amount of time it takes to conduct the end of year audit. The work done to map the chart of accounts for the interim audit will make the mapping for the final audit far quicker, cutting down on the heavy lifting before the peak season arrives. The only accounts that will need to be mapped are any new accounts that have been introduced after the interim audit.

We have also added one new report for interim audits. This report is called the Roll Forward Check. This report will compare the interim and final GLs and highlight any changes or errors that occurred to transactions between the interim and year-end.

Ai Auditor roll forward check

Image: Ai Auditor Roll Forward Check: Click to enlarge

Image: Ai Auditor Interim Analysis: Click to enlarge

Ai Auditor Interim Analysis once the full year GL is loaded

Image: Interim Analysis after the full year GL is loaded: Click to enlarge

Multi-year Trend Dashboard Report

The Multi-year Trend Dashboard Report allows an auditor to export details from the multi-year dashboard into an Excel spreadsheet to be included in audit working papers and for the purpose of building custom ratios and charts. The multi-year report is broken down both by year as well as by month.

AR files can be loaded using our drag and drop functionality, and our ingestion wizard supports column mapping for each file type. With the AR Module comes AR specific control points, dashboards, and reporting.

User access management

Some organizations may need to carefully log and maintain who has access to their audits or in the case of very large audit firms; certain auditors may only have access as required to a small subset of client engagements or data. As such we have introduced a new, powerful administrative control for auditor access to individual engagements. Access can be configured for auditors when a new engagement is created and changed on-the-fly by auditors configured with organizational or tenant administrative privileges.

User Access Management in MindBridge Ai Auditor

Image: User Access Management in MindBridge Ai Auditor: Click to enlarge

Extensible account mapping

The MindBridge Ai Auditor platform has extended account mapping functionality and now has the capability to link third party account groupings / mappings to the MindBridge Account Classification (MAC) codes. During the column mapping stage, auditors will now be able to identify previously mapped columns in the ledger and map them to the appropriate MAC code. MindBridge Ai Auditor will then leverage this additional information to increase mapping accuracy. This functionality includes enhanced and updated support for account mappings from CCH Engagement, Intuit, QuickBooks and the General Index of Financial Information (GIFI) from the Canadian Revenue Agency.

Extensible account mapping in MindBridge Ai Auditor

Image: Extensible account mapping in MindBridge Ai Auditor: Click to enlarge

Transaction ID Generator

General ledger exports from some ERP systems many not include transaction IDs, or the transaction ID values may be incomplete or ambiguous. Transaction IDs are important in the analysis process as they form the basis for the machine learning AI used by MindBridge.

This new functionality enables the automatic generation of transaction IDs, when necessary, during ingestion of financial data. In cases where transaction IDs are non-existent, the Ai Auditor will propose ways to generate a transaction ID using combinations of other available data fields, or the user may create a custom formula. During the generation of the transaction ID, Ai Auditor will perform an analysis and indicate if the data set will be best represented for analysis with each proposed or customized combination.

The goal of the generator is to find a transaction ID that balances for all the entries it represents, while minimizing the number of entries per transaction.

Transaction ID Generator in MindBridge Ai Auditor

Image: Transaction ID Generator in MindBridge Ai Auditor: Click to enlarge

Control Point Logging

This new feature logs adjustments to the default control point weightings in the platform and requires the user making the changes to log a reason for making the adjustment. The updated control point settings will be included with the audit plan export, with specific details on any changes that had been made, and which user made the change.

Control Point Logging in MindBridge Ai Auditor

Image: Control Point Logging in MindBridge Ai Auditor: Click to enlarge

Other 2018 updates

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Smart search with Natural Language Processing (NLP)

Ai Auditor introduces the game changing ability to interrogate the data in a whole new way. Query the data in human language using textual questions, with results fed back to the auditor based on how the machine understood the question, with data sampled accordingly. This feature permits negative searches as well, which is not currently supported in the faceted search.

Enhanced intelligent sampler

Auditors can now select a sample based on the transaction table view, which is driven by either our faceted search or a smart search query. Our prior version of intelligent sampling was applicable to the whole population only, which limited the usability. The intelligent sampler is a critical value of Ai Auditor and the delivery of assurance, as MindBridge Ai customers find our risk-based sampling is 20-900x better than random or monetary unit sampling.

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Click to enlarge

Data ingestion wizard

This new feature provides inline column mapping support for auditors to map GL from their customers ERP systems to our standardized columns for analysis. This functionality enables auditors to resolve file-based ingestion issues where the column headings used by their ERP system does not align with our standard columns.

QuickBooks online integration

Further to syncing with other online ERP systems such as Sage Intacct and NetSuite, Ai Auditor now devours data straight from QuickBooks online as well.

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Click to enlarge

Account mapping enhancements

Allows auditors to export our MindBridge Audit Classification (MAC) as a spreadsheet and allows them to re-import a corrected mapping to their standardized chart of accounts.

Identity Provider (IDP)

IDP stands for IDentity Provider. This new feature launches our own IDP server in the product which can be federated with other IDP systems for single sign-on services in our product. The first IDP system federation is with Azure Active Directory and Google and we also include two-factor authentication as an option for deployment. 

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Click to enlarge

Additional column selection

Allows users to customize their view of the transaction table and select the columns they want to see and analyze.