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As opposed to financial risk assessment tools that only look at accounts and entries in isolation, Ai Auditor identifies unusual transactions by also looking at the monetary flows between accounts, all credits and all debits, to provide vision into the state of data, arming users with a better understanding of individual transactions and identify potential issues.
Ai Auditor platform is designed to empower insights through transparency, without black-box obfuscation what is happening beneath the surface, so all of the details on what tests triggered risk rankings are at the user's fingertips, for every line item. Its reporting interface encourages users to explore, investigate – seeing exactly what is drawing concern, and why.
- Supported: Augment your capacity to detect errors in the data
- Supported: Enhance auditing with explainable AI
- Supported: A/B testing has shown the platform is 20 to 900 times more likely to identify errors in the data.
Watch Audit & Advisory - See how AI and machine learning concepts apply to financial risk assessment, how Ai Auditor streamlines data ingestion and account mapping and how a data-driven approach to risk improves operational insights, forecasting, and client reporting
Watch Corporate Finance - See how AI and machine learning concepts apply to financial risk identification, how Ai Auditor helps finance teams achieve higher-quality close, how a data-driven approach to risk improves operational insights, forecasting, and reporting to the board
|Deployment Types||Software as a Service (SaaS), Cloud, or Web-Based|
|Supported Countries||North America, South America, EMEA, Australia, New Zealand|
|Supported Languages||English, French|
- Simple web layout - easy to navigate throughout the tool
- Dedicated customer success team - always willing to help solve questions and problems that come up
- Provides many resources for success and scalability - ranges from workpaper documentation ideas to training resources
- Some of the web drop-downs should be formatted differently - they cut-off when you reach the end of the page, and you can't begin typing a keyword to locate what you want (mostly in mapping account groupings)
- Trends analysis doesn't allow a drill-down to the account level.
- Using the output from MB AI we have been able to reduce the inherent risk and analytical procedures risk assessments in our audits which have reduced our substantive testing sample sizes.
- The output from MB AI allows us to focus on the medium risk and high risk transactions that were recorded in the general ledger during the year.
- Our younger, more technologically advanced team members really enjoy working with MB AI.
- Because the software is so robust, the learning curve is fairly lengthy, but MB's customer service has been fantastic.
- Journal entry testing
- Viewing large data
- Anomaly detection
- All improvements are readily accepted by the team and assimilated into the product when they have a wide enough impact on other clients. Can't ask for more.
- Discovering and analysing patterns
- Identifying anomalies
- Extracting other useful information in data underlying the audit through analysis, modeling, and visualization
- Improve ease of use through an increased number of courses on the academy
- Potential to connect directly to clients' accounting system rather than having to obtain the data
- Increased analysis functions and ways to display data patterns
MindBridge Ai Auditor is very useful in an audit where there is a high volume of data. It enables the team to analyze and visualize the data in a more sophisticated manner than would be possible by manual review and standard sampling techniques.
MindBridge Ai Auditor works best when the client is using a standard accounting software and the data is stored in the appropriate format used for MindBridge analysis. When the data is from a different type of system however, the MindBridge data team is able to assist us in formatting the data either through pointing in the direction of courses on the academy or, in more complex situations, formatting the data for us.
- Works well with QuickBooks Online. Easy to link programs for quick analysis.
- Provides risk analysis that can be cross correlated with KPIs.
- Aligns the risk analysis with audit assertions.
- Easy to use, no huge learning curve.
- Great support staff for guidance or troubleshooting.
- Functional dashboard that is not just a picture; it has drill down capabilities.
- Customizable KPIs
- It needs to have a deliverable Risk Analysis report, something that can be exported to a PDF and delivered to clients.
- Accounts receivable and payable analysis needs to be able to handle tiered customers and vendors.
- Exporting to PDF should be a feature. Works great for Excel.
- Needs forecasting capability in order for us to use for review engagements.
- Needs the ability to compare client to industry ratings.