botminds.aiRequest a demo

Journal Entry Testing demo

The whole year's journal entries scored for override risk, and the risky ones judged on their support. 1:34

Book a demoExplore the solution

What the demo shows

For internal audit: every journal entry risk-scored, and the risky ones checked against support

The whole year sits on one time ribbon: every journal entry placed by when it was posted and raised by its risk score, weekends and the last days of the year shaded, so timing, the strongest sign of override, is visible at a glance. A population agent first proves the year is complete, pulling in the consolidation adjustments no ledger extract can see. A scoring agent applies the audit team's own approved criteria to every entry and explains each score. For every flagged entry a support agent fetches the backup, a pattern agent finds reversals after the year end and the same entry a year earlier, and a reasonableness agent judges whether the support explains the account pairing, the amount and the timing, citing the passage for each. An inquiry agent drafts the question to the preparer, but holds it and proposes escalation when the preparer may be the one who overrode the control. People re-check a sample of what the agents cleared, and only the auditor closes an entry, with a reason code and an e-signature.

Transcript

  1. Journal Entry Testing Risk scores every journal entry and checks the risky ones against their support.
  2. Audits must test for management override, yet inspectors keep finding risky entries untested.
  3. Here, agents proved the year complete, then scored all 186,000 entries.
  4. The ribbon shows each entry by time and risk.
  5. On the last night of the year, one stands out.
  6. $249,500, Sunday at 11-12, just under the limit.
  7. Revenue into deferred revenue by the assistant controller.
  8. Only he has done that by hand.
  9. The only support is his own spreadsheet with no contract.
  10. The agents found every order delivered in June and the entry reversed in July.
  11. So they propose escalation, not a question to him.
  12. Leah signs the decision.
  13. Every conclusion is cited and logged, and only the auditor closes an entry.
  14. Every entry tested, not a sample, and a cited conclusion in three days, not three weeks.
  15. Built on Botminds: agents, data, screens, and governance on one platform.

Transcribed from the film’s narration. Captions are on the player.