Scalable time-saver on audit procedures
MindBridge [Platform] is used solely by the audit department in our company in order to create a more in-depth preliminary risk assessment …
Overview
What is MindBridge Platform?
MindBridge Ai Auditor is an AI powered auditing & financial risk assessment platform, from the company of the same name in Ottawa.
Recent Reviews
Pricing
N/A
Unavailable
What is MindBridge Platform?
MindBridge Ai Auditor is an AI powered auditing & financial risk assessment platform, from the company of the same name in Ottawa.
Entry-level set up fee?
- Setup fee required
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Would you like us to let the vendor know that you want pricing?
41 people also want pricing
Alternatives Pricing
What is ObservePoint?
ObservePoint’s Web Governance platform automates website scans, from the highest traffic pages and user paths to the dark corners of a company’s web presence. The software provides the ability to see what’s performing below acceptable standards, trace it back to the source, and quickly see a path…
Product Details
- About
- Competitors
- Tech Details
- FAQs
What is MindBridge Platform?
An AI powered auditing & financial risk assessment platform, MindBridge Ai Auditor supports financial analysis. The vendor states that with its fast, risk-ranked analysis on 100% of transactions, with zero scripting, users can provide greater assurance than ever before, all while saving valuable time and resources. Ai Auditor is designed to supersede CAAT tools and eliminate the associated risk of missing errors or fraud that may lurk in financial data.
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.
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.
MindBridge Platform Features
- 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.
MindBridge Platform Screenshots
MindBridge Platform Videos
MindBridge Platform Competitors
MindBridge Platform Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
| Supported Countries | North America, South America, EMEA, Australia, New Zealand |
| Supported Languages | English, French |
Frequently Asked Questions
MindBridge Ai Auditor is an AI powered auditing & financial risk assessment platform, from the company of the same name in Ottawa.
CaseWare IDEA, FileAudit, and Thomson Reuters AdvanceFlow are common alternatives for MindBridge Platform.
The most common users of MindBridge Platform are from Mid-sized Companies (51-1,000 employees).
Comparisons
Compare with
Reviews and Ratings
(5)Attribute Ratings
Reviews
(1-2 of 2)Companies can't remove reviews or game the system. Here's why
February 13, 2021
It's time for auditors to implement new strategies.
Score 10 out of 10
Vetted Review
Verified User
As a CPA firm, we wanted to provide our attest clients with an audit that was more efficient and effective. We experimented with MindBridge Ai for a few months and were very pleased with the results. We made a two year purchase commitment and are using the tool on eight audits this corporate season.
- 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.
- We are finding that sample sizes and overall risk assessments are decreasing with then correlates to reduces audit hours on engagements.
- The learning curve is fairly steep in the first year and this offsets most of the efficiency gains in that first year.
- Our audits are more effective as MB AI is identifying high and medium risk transactions that we may not have identified using traditional audit procedures.
We did not consider any other similar products.
November 05, 2020
AI for Audit is here. Do not be left behind!
Score 10 out of 10
Vetted Review
Verified User
MindBridge AI Auditor supports our Audit department. Everyone in auditing uses the platform for risk assessment, audit sampling, and new audit client screening. The technology allows us to plan audits based on the actual risk in the general ledger. It pinpoints the area where we should focus our attention and allows us to tailor our strategy around those areas. In addition, it provides documentation for the risk assessment and overall audit plan. This, combined with our professional skepticism, helps us deliver a better audit based on the actual risk. It takes away the guessing game of random and haphazard sampling. With respect to new client screening, it helps us understand what the risk is and how to appropriately price the audit or determine whether we want to engage the client for auditing services.
- 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.
- In the past, we did not obtain a lot of new audits because we were not the cheapest. Since using this product, we have obtained clients because we use AI. Not because we lowered our price, but because we are using AI to target the risk at the transaction level and delivering better audits.
- I have passed the cost of this software to my clients, so there has been no impact on my bottom line.