30 Great Places to Work 2020
Audit professionals are using artificial intelligence in ways that are both expected and surprising, categorizing risk across entire ledgers and feeder systems without requiring a person to pore through vast amounts of data. Beyond the sheer processing power of AI, it enables a new evolution of reasonable assurance. AI learns about the data it’s analyzing, determining patterns, and identifying outliers over time. As it learns more about the deep financial details and history of clients, it can quantify and flag behavior or outliers to auditors that it considers risky. While academics and some industry professionals might say these benefits are theoretical, the reality is that they are available to auditors right now. AI for audit is real and in use, helping firms utilize all the available data with improved speed, risk assurance, and meaningful insights for clients. It’s crucial for business leaders to select the solution that allows their firm to shift from standard audit reporting and compliance to value-added advisory services that offer competitive differentiation. Through the power of human-centric artificial intelligence, MindBridge helps organizations deliver rapid value to their clients with deeper insights and higher risk assurance for 100% of their data. With MindBridge Ai Auditor, the world’s first AI-powered auditing solution, organizations across multiple industries are augmenting human capacity to restore confidence in their financial data.
There are plenty of challenges with established audit practices. Outdated CAAT tools, sampling practices and the explosive growth of big data, all present major barriers to detecting anomalies, intentional or otherwise in financial data. A/B testing with the MindBridge Ai customer base has shown that when AI analysis is enabled, the platform is 20 to 900 times more likely to identify errors in the data. Just as importantly, Ai Auditor is engineered to reveal insights through transparency. No black-box obfuscation, all of the details on what tests identified risk are at your fingertips, for every line item. Its sleek, intuitive reporting interface encourages you to explore, investigate — seeing exactly what is drawing concern, and why. Dozens of the most powerful risk-detection criteria on Earth, including expert taught AI and machine learning algorithms, working together to analyze 100% of your data, including all monetary flows between accounts? That’s not some pipe dream for the future, that’s MindBridge Ai Auditor today. Welcome to reasonable assurance, redefined.
Zero scripting, zero training
A wise man once said, “Sampling is a coping mechanism for dealing with large data.” Don’t leave risk assessment to chance, Ai Auditor analyzes your entire data set, and unlike any other solutions it examines full transactions, looking at the monetary flows between accounts, all credits and all debits. Wasting time on data ingestion and account groupings are now a relic of the past. Solutions that require IT resources, scripting and training on CAAT tools, those solutions are working against you, not with you. Ai Auditor works by your side, taking care of the heavy lifting, providing the best possible analysis for your audits, while freeing you spend time where it matters. With a powerful and intuitive reporting interface, Ai Auditor empowers you to examine and compare risk assessments across your entire data set, whether it be by account, by time, by user, vendor or transaction. The visually compelling drill down functionality provides a beacon to explore the data at a more granular level, where detailed risk assessments, and their explanations are just a click away.
Unlock the true potential of your corporate finance team
Build the finance team of the future by leveraging the latest advancements in AI to identify where risk is occurring in your business and shift resources to more valuable, insight-driven work. MindBridge revolutionizes enterprise risk management, while unlocking value in your data and transforming your team into a powerful, dynamic risk-planning machine. MindBridge provides the only adaptive anomaly detection engine that understands your unique financial situation and pinpoints areas of risk that warrant further investigation. By scrutinizing every ledger transaction to dynamically identify patterns and outliers, MindBridge empowers your team to address issues earlier, instilling greater confidence in your financial reporting. MindBridge is the catalyst to accelerating your team’s digital fitness while enabling you to provide more value and innovation to the business.
Eli Fathi, President and Chief Executive Officer
“With MindBridge Ai Auditor, the world’s first AI-powered auditing solution, organizations across multiple industries are augmenting human capacity to restore confidence in their financial data.”