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Financial advisory
AI-driven financial audit
We audit the finance function using the method of the large firms, with a single aim: to measure its level of artificial intelligence and raise it, on the indicators investors look at.
The method
Plan, execute, review: the approach of an audit, applied to AI
- 1
Plan
Understand the business and map its financial processes: cash, sales, purchasing, payroll, closing, reporting. For each one, establish the starting level of automation and AI, and set the scope of the audit.
- 2
Execute
- Internal control
- Review the design and operation of each process's controls, and identify those AI can make more reliable.
- Substantive testing
- On a sample of transactions and balances, record errors, delays and manual reworking: what the absence of AI costs today.
- 3
Review
Establish the AI maturity level of each process, then recommendations ranked by expected gain, cost and lead time, and an implementation plan.
- Deliverable
- An audit report: findings by process, recommendations, and the expected effect on what investors and other stakeholders track (closing time, reporting reliability, cost of the finance function).
- Stage of the cycle
- At any time, notably during the holding period or ahead of a fundraising
- For whom
- The founder or CEO, the fund and the portfolio company
Contact us
An example: The Go'o Water case study