For better or worse this is a trend that is bound to increase especially when AI and sophisticated analytic methods become part of the process. Auditmetrics^® has been on both sides of the audit process especially in the area of Computer Assisted Audit Techniques (CAATs) which includes periodic statistical audits to monitor account performance.

This increase in AI and statistical analytics will mean a business must protect its home base by periodically conducting its own internal audit and track record of account statistical performance that conforms to AICPA and IRS standards. Auditmetrics was developed in Massachusetts where the law regarding the statistical audit was very simple, it must conform to IRS standards.

The audit is the first step in the triad of auditing, forecasting and market research. Statistical analytics are multi-potential tools ideal not only for this trad but is also the foundation of data mining.

Auditmetrics AI interprets a knowledge base to guide the user in solveing business problems.

Software, Book and Historical Review:

     AuditmetricsAI Pro has analyzed millions of account transactions on a Microsoft Surface Laptop.
     Its algorithm efficiency is ideal for small business, students and consultants who need to be mobile.

V6.5 Pro can sample accounts with milions of records
also includes forensic accounting using Benford Formula
& ideal for longterm Forecasting.

What is Unique About Auditmetrics as Compared to Other Financial Software:

• Auditmetrics focuses on statistical analytics, which is beneficial for organizations looking for rigorous and mathematically sound audit processes and data mining.
• The AI feature in Auditmetrics guides users through statistical audits, forecasting and market research, which can be particularly helpful in expanding analytics capabilities and competitiveness.
• Data input flexibility in that it accepts data from various accounting management systems like QuickBooks, which enhances its versatility for different business sizes and types.
• Auditmetrics provides educational materials, such as a self-learning "Student Tutorial" with companion PowerPoint slides.
• In addition to following AICPA and IRS statistical audit standards, AuditmetricsAI V6.5 is certified by Microsoft.
• Health benefit financial administration augmented with studies involving health outcomes.
• Auditmetrics AI Pro efficiency can analyze data sets on a laptop ideal for small business and students

Auditmetrics has aways been very versitile in its service to its clients: We do our best to keep up with new advancements such as the increasing use of data and statistical analytics in enhancing profit and loss performance. A recent article by Gary Schoeniger in Forbes Small Business Newsletter: "Five Reasons Small Businesses Fail, And How To Avoid Them". One recommendation is

           DITCH THE BUSINESS PLAN!

Schoeniger states his premise in admittedly controversial terms to emphasize that the formal business plan process can rely too heavily on logic and easily create a false sense of confidence. Advancements in AI and statistical analytics allows for greater data driven testing of ideas. The key is to obtain unbiased assessments of proposed activity.

           Forbes Newsletter Full Article