Risk-based audit planning for audit professionals

RoboAuditor is an AI-based platform for assessing audit risks and assisting auditors in their plans to carry out their audit procedures effectively. It will evaluate data and form a prognosis in 10 key areas, namely: Engagement risk, Entity background, Control environment, Financial statement risk, Directors/ Key management risk, Industry risk, Economic risk, Compliance risk, Fraud risk and Operational risk. The AI within RoboAuditor performs three key tasks: assessing the key areas of risks of a company across the 10 modules; prioritising areas to perform audit tests and recommending action steps in accordance to high, medium and low risk areas.