AI Case Study
Kingston Smith automates financial auditing by analysing transaction data against users and vendors and identify risk using machine learning
Kingston Smith, an auditing firm, uses MindBridge's AI platform to analyse all the transaction data available, verifies against business rules and cross-validates against users and vendors. It then models the risk associated with each case and flagging suspicious ones for CPAs to manually inspect.
Consultancy And Business Services
"MindBridge Ai Auditor revolutionizes financial analysis as the world’s first AI powered auditing platform. Fast, risk-ranked analysis on 100% of transactions, with zero scripting, offers greater assurance than ever before, all while saving valuable time and resources. With Ai Auditor, cumbersome CAAT tools are a thing of the past, and with them go the associated risk of missing errors or fraud that may lurk in financial data.
AI Auditor not only looks at transactions individually but also identifies unusual transactions by looking at the monetary flows between accounts, all credits and all debits."
Pilot; Results not yet available. However MindBridge claims:
* 100% data analysis
* Anomaly detection in a few minutes
"Statistical methods like regression and Benford’s Law are applied, as are numerous machine learning algorithms and AI seeded with knowledge from the domain expertise of some of the world’s top CPAs."
"Kingston Smith, a top 20 UK chartered accountancy and audit firm is leveraging MindBridge’s Ai Auditor"
"Ai Auditor empowers you to examine and compare risk assessments across the entirety your entire data, whether it be by account, by time, by user, vendor or transaction."