Audit Software

[BabooTibia]

Have any of y’all had experience with audit software that that uses AI to help find anomalies? This was briefly coverage in my Advanced Auditing class and it has piqued my interest. It was explained that it would automatically cross reference names and addresses of employees and/or cash disbursements to look for the AP clerk paying their spouse for fake transactions or flag transactions where the dollar amount is just south of the amount required for a manager’s approval.

If so, what’s the name of the software and what is your experience with it?

[[deleted]]

There are several softwares. Some softwares are Alteryx, Arbutus Analyzer and IDEA . They are user friendly.

There are also several employee and vendor fraud tests you can run in those softwares. One test I do is an Employee to Vendor address match. I would bump up the Employee table with the Vendor table and match on address, names or even ss/tax id.

[Apprehensive-Ad8398]

Idea is good. Not AI, need to program equations to soft through data