Case Study: Crowe MacKay strengthens audit risk assessment and journal entry testing with MindBridge

Crowe MacKay LLP - Customer Case Study

Crowe MacKay LLP, an innovative accounting firm, sought to enhance the thoroughness and effectiveness of its audit risk assessments and journal entry testing. Their traditional method of random sampling was not foolproof for detecting risks within large volumes of client transactions. They turned to the MindBridge Ai Auditor platform to address this challenge.

MindBridge implemented its Ai Auditor, which uses AI and machine learning to analyze all transactions and flag anomalies by risk. For Crowe MacKay, this resulted in the discovery of significant errors like a $60,000 overpayment that began with a $1.67 flagged transaction. The platform's visualizations also helped quickly identify gaps in financial data. The solution provided quantifiable risk assessment, increased confidence in audit plans, and reduced the number of samples needing manual testing by one to five per expense test, saving time and delivering stronger audits. MindBridge has become an invaluable tool for the firm.

Crowe MacKay LLP