Faster and More Complete Revenue Testing With Vizschön™ A Use Case by Vigilant AI
The Scenario – Revenue Discrepancies Uncovered During Initial Analysis An accounting firm is conducting a year-end financial audit on a midsized commercial landscaping company. The company uses contractors to provide various landscaping services to customers. Services can depend on the time of year, location and size of the property, and customer needs. Contracts are typically […]
Faster Forensic Auditing – How a Furniture Manufacturer Used Vigilant AI’s Vizschön Platform to Pinpoint Cost Overruns
The Scenario – A Newly Opened Mexican Manufacturing Facility An Asian furniture manufacturer supplies numerous retail stores across Asia, the UK, and North America. In response to US tariffs implemented by the Trump administration on Chinese imports, the company acquired and opened a manufacturing facility in Mexico. To meet demand and continue delivery of products […]
Improving Audit Quality – How Intelligent Data Management Reduces Audit Risk
Auditors play a critical role in ensuring the quality of financial reports. But as the volume and complexity of corporate financial data grows, traditional approaches to data management and review simply cannot keep up. To ensure audit quality, auditors are continuing to assess and evaluate artificial intelligence (AI) tools and platforms that will help improve […]
Attracting and Retaining Auditors – The Role of Technology During a Skills Shortage
Like many industries, the accounting and audit profession is dealing with a severe shortage of skilled workers that adversely affects employees and audit firms. We need to attract and ensure we are retaining auditors With fewer new graduates entering the job market, an aging workforce nearing retirement, and an exodus of accountants to other industries, […]
Faster and More Complete Financial Audits – Understanding the Data Capture Process
While the rise of big data has enabled companies to optimize business processes and strengthen strategic decision-making, the volume and complexity of data available to auditors can quickly become overwhelming. Audit teams begin by looking at accounting entries and financial statements to identify discrepancies, anomalies, and areas of risk for further review. Based on those […]
The 5 Benefits of Holistic Financial Data Management for Auditors
The traditional approach to collecting and managing corporate financial data for auditors has reached its limit. The overwhelming volume of data, tight audit timelines, and a growing regulatory and media focus on fraud have combined to significantly impact the quality and completeness of the audit. Faced with these challenges, financial auditors are finding it necessary […]
Five Reasons Why Current Audit Approaches are Failing
The role of the auditor is under increased scrutiny. Audits have always been important tools for stakeholders, regulators, and the wider public to verify financial statements. But with numerous audit failures and record fines levied against audit firms across the industry, it’s important to understand the challenges facing auditors today that have led to this […]
A Holistic Approach to Data Management for Audit and Financial Analysis
Today’s business environment is more complex than ever. Auditors are under increasing pressure to perform complete, accurate, and independent financial audits against an ever increasing amount of financial data, and continuing tight delivery timelines. As the amount of data available to auditors increases each year, traditional approaches to data management and review simply cannot keep […]
