Audit Sampling with MindBridge Ai Auditor
The fundamental problem addressed by sampling is that it is not feasible to apply auditor judgment and expertise to the entire set of data. Sampling provides an objective basis for the claim that audit findings have “reasonable assurance”, but this assurance comes at the cost of restricting the application of the auditor’s judgment and expertise to just the inputs of the sampling procedure. In the ideal situation, the auditor would examine every transaction; she would come to understand which sorts of transactions represented ordinary business and which sorts of transactions are unusual and deserve closer attention. Although this is not feasible for an auditor, artificial intelligence can be applied to assess every transaction to determine which transactions are most anomalous and in need of auditor attention.
Download this whitepaper to learn how MindBridge Ai Auditor delivers comprehensive analysis that can be used by the auditor at multiple stages of the audit process, and how the auditor can use the analysis provided by Ai Auditor to form an enriched sample set and to identify non-compliant transactions in the sample set.
Accounting roundtable: How we used AI to grow advisory services
Join our industry panel of CPAs that have gone through the diligence and deployment of AI-based solutions to offer new advisory services to clients.
How to grow your advisory services using AI
The future-ready firm must make strategic choices now to evolve their advisory and transaction services before their competition. See how AI supports advisory services and what your firm can do to get there.
3 steps towards AI-enhanced audit by 2020
Artificial intelligence isn’t a dream – over 40 of the US Top 100 are using MindBridge Ai Auditor right now. You’ve heard the news and hype, but do you know how to make AI-enhanced audit a reality for your firm?