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.
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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.
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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.
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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).
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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.