Name: AI for Internal Controls over Financial Reporting | MindBridge Edge
Start: 2024-05-09T15:40:00Z
End: 2024-05-09T15:40:53.000Z
Location: BrightTALK
Rating: 0

. We help audit and finance professionals automate analysis of every transaction and focus on unusual activity.

As the pace of technology accelerates and the complexity of regulatory environments increases, the demand for adaptive, continuous oversight has never been more critical. 

Join internal audit experts Harold Silverman, Senior Director, Audit Committee and Corporate Governance Engagement at the Institute of Internal Auditors (the IIA), and Ernest Anunciacion, Head of Product Marketing, and former Chief Audit Executive (CAE) for a deep dive into considerations that internal auditors must take to be AI-ready. In this session, they will discuss how AI-powered risk intelligence platforms are reimagining expectations for the next era of auditors from traditional compliance activities to a more dynamic, strategic function that drives significant organizational value. 

Key Topics 

- Practical AI Applications: Learn about the considerations internal auditors have around implementing AI as part of their methodologies as well as auditing their organizations usage of such technologies. 
- Advanced Risk Intelligence: Dive into how AI integration redefines internal audit processes, boosting efficiency and adding strategic value beyond traditional compliance. 
- Delivering Organizational Value: Learn how risk intelligence platforms leverage AI to provide continuous monitoring of financial transactions, enabling auditors to proactively manage risks and enhance decision-making capabilities.

How AI Evolves Internal Audit’s Strategic Impact

Use data-driven risk scoring to detect internal control and process anomalies

Never-ending corporate failures, accounting scandals, and a shifting regulatory landscape, means that the importance of having an effective control environment has never been more important.

Whether you are looking to support your business and compliance objectives through a “Year 1” build, control monitoring or testing, or transforming/improving your existing control environment, there should always be a focus on optimising the effectiveness and efficiency of your internal controls framework.

This webinar will focus on:

- What is data-driven risk scoring?
- How can I use data-driven risk scoring to optimize my internal controls framework?
- The value of scoring 100% of your transactions 
- Generate internal control and process insights.

After this webinar, you will come away with an understanding of how to score 100% of your transactions.

AI powered risk scoring to optimize your internal controls framework

Earlier this year KPMG and MindBridge announced a strategic alliance to help bring advanced artificial intelligence (AI) into KPMG member firms’ digital audits around the world. KPMG’s smart audit platform, KPMG Clara, now uses MindBridge’s technology to help unleash the power of AI into audits, further enabling the identification of unexpected or high-risk transactions and helping to provide enhanced audit quality.

During this session, Sebastian Stöckle KPMG’s, Global Head of Audit Innovation, will share KPMG’s vision of the future of audit.

KPMG's Vision for Future of Audit | MindBridge Edge

Align Technology is a global medical device company that is changing lives through better smiles. We reimagine and reinvent the way orthodontic and restorative treatment is presented and delivered to millions of people around the world.

This session will be a fireside chat with key employees that have built a state-of-the-art internal audit department that is valuable to the rest of the organization.

A Fireside Chat with Align: Internal Audit Department Success | MindBridge Edge

Over several years, Chevron has invested significantly in data infrastructure, human capital, and algorithm development to understand their data-driven business. Though progress was made, it wasn’t until Chevron met MindBridge.ai at the Gartner CFO Conference in 2022 that they discovered a truly scalable technology, delivering meaningful insights into financial operations. 

Attend this session to learning how MindBridge has unlocked Chevron’s data landscape, helped prioritize high-risk business processes, and minimized unknown financial risks.

AI-Powered Financial Data Discovery at Chevron | MindBridge Edge

Add focus to business segments and revenue drivers.

Many factors must be considered when evaluating financial data. With pressure on businesses to do more with less, financial professionals must consider advanced technologies to help mitigate risk across the volumes of financial data.  

Segment analysis augments the financial professional’s ability to understand and identify areas of the business that pose greater risk and complexity.  Breaking down these segments supports an emphasis on high-value tasks due to an increased focus on anomalous or unusual events within the business segments. 

Further, the disaggregation of revenue into categories assists financial professionals in understanding the nature of the entity’s revenue and where it was derived. This can be related to types of goods or services, geographical region, sales channels, and more. The understanding of these categories is important to create transparency; however, the financial professional should also understand the impact of how anomalies in the transactional detail impact these particular areas.

This webinar will focus on:

- Building a deeper understanding of the business using segment analysis
- The impact of anomalous or unusual activity in the business
- How anomaly detection adds focus to segment analysis and disaggregated revenue

At the completion of this session, attendees have a better understanding of how anomaly detection can help improve segment and disaggregated revenue analysis.

Slice and dice with ensemble AI: segment and disaggregated revenue analytics

Understanding anomalous payroll transactions.

Payroll transaction files are notoriously hard to analyze and contain some of the most sensitive information within an organization which means the resources to analyze this data are scarce. This webinar will cover what kinds of anomalies can be detected in payroll payment transaction files and the use cases within a commercial enterprise or by an audit firm.

This webinar will focus on:

- What is ensemble AI / anomaly detection
- What is knowable from payroll data files
- Sample use cases – identifying the unknown

Join this webinar and come away with a better understanding of how payroll payment transaction data anomaly detection can surface the unknown in your organization.

Payroll anomaly detection using AI

How can business professionals rely on AI produced data analytics results to make better decisions?
AI is an exciting technology being adopted by numerous industries today. In the accounting and auditing practices this has the power to be transformational, but with increasing scrutiny on controls and audit approaches, some may be reluctant to adopt a technology they don’t understand. Explainable AI can help to mitigate some of these risks by helping users to understand analytics results and take action.

This session will focus on:
- What is Explainable AI?
- Why is Explainable AI important to accountants?
- When should you use Explainable AI?
- How can vendors help you in understanding their approach?
- Five steps to get started

Join this session and come away with a better understanding of how Explainable AI can help improve your organization’s risk analytics.

Explainable AI, transparency and trust

Upgrade your controls to reduce financial reporting risk

Internal Control over Financial Reporting (ICFR) continues to be a key focus for international and regional regulators, and a critical part of the Chief Financial Officer (CFO) responsibilities to ensure that financial statements are accurate and free from material misstatement.

As the cost of compliance (and non-compliance) reaches new heights and the complexity to curate insights from the vast volumes of data from the digitization of finance functions increases, many organizations are now taking a serious look at how Artificial Intelligence (AI) can improve their internal control frameworks.

This session will focus on:

- How can AI improve the effectiveness of internal controls
- How can AI support professional judgment
- How can you properly supervise AI and ensure technology remains glass box 

Join this session and come away with an understanding of how AI can enhance your ICFR to be more efficient and responsive to organizational needs.

AI meets Internal Controls over Financial Reporting (AiCFR)

Internal Control over Financial Reporting (ICFR) continues to be a key focus for international and regional regulators, and a critical part of the Chief Financial Officer (CFO) responsibilities to ensure that financial statements are accurate and free from material misstatement. As the cost of compliance (and non-compliance) reaches new heights and the complexity to curate insights from the vast volumes of data from the digitization of finance functions increases, many organizations are now taking a serious look at how Artificial Intelligence (AI) can improve their internal control frameworks. This session will cover specific examples of where AI can be used in ICFR.

AI for Internal Controls over Financial Reporting | MindBridge Edge

Artificial Intelligence

Data Analysis

Data Analytics

Risk Analysis

Risk Assessment

Risk Management

Internal Audit

Audit

Enterprise Applications

Accounting

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Application Management

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Information Technology

Get powerful finance insights for your business. Connect with experts and colleagues to get the most up-to-date knowledge that will help you to determine which financial factors build or erode value in your organization.

Finance

Get powerful finance management insights for your business. Connect with experts and colleagues to get the most up-to-date knowledge that will help you to determine which financial factors build or erode value in your organization.

CFO Strategy

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AI for Internal Controls over Financial Reporting | MindBridge Edge

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