KNAV Audit Goes Hi-Tech, Adopts MindBridge Ai Auditor™

KNAV International Ltd today announced that it has become one of the earliest   first adopters of the MindBridge Ai Auditor™ — the leading Artificial Intelligence (‘AI’) solution for the auditing process and forensic analysis. MindBridge Ai Auditor™ will enable KNAV’s Atlanta, US office, which also hosts a knowledge center in Mumbai, India, to lead the way in audit analytics, as it increases speed and efficiency in its audit process.

MindBridge Ai Auditor™ is an audit analytics software platform that utilizes machine-learning artificial intelligence to uncover errors, including material irregularities and/or anomalous transactions.  MindBridge™ makes the audit process faster, more accurate and complete, resulting in lower risk exposure and providing clients with complete assurance that exceeds regulatory and industry standards.

Speaking on the occasion, Atul Deshmukh, Global Leader for Assurance at KNAV said, “Given the explosion of data in today’s digital world, it is critical that the audit profession evolves its traditional processes and embraces advanced technology tools—including robotics, automation and cognitive technology. Our focus is to have stronger analytical, data science and IT skills to complement our financial and business acumen. MindBridge Ai Auditor™ is a unique solution that will allow us to provide a more time-efficient, economical, rigorous and quality audit with an elevated level of assurance to our clients.”

“We are thrilled that KNAV will be using our leading edge MindBridge Ai Auditor™ to provide their clients with higher audit assurance and higher value. We look forward to working with leaders like the audit and advisory firm KNAV. This will provide them with a huge competitive advantage and operational efficiency while still adhering to the industry standards”, stated Eli Fathi, CEO MindBridge Analytics Inc.

MindBridge Ai Auditor™ will be implemented across all member firms of KNAV over the next year. The implementation will help avoid the random aspects of statistical sampling, will provide a much stronger level of assurance, and ultimately reduce the risk of an incorrect audit opinion, thereby substantially lowering the chance of reputational risk and litigation risk.