For better or worse this trend is bound to increase especially when AI and sophisticated analytic methods become part of the process. Auditmetrics^® has been on both sides of an audit 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 means a business must protect its home base by periodically conducting its own internal audit that conform to AICPA and IRS standards. Auditmetrics was developed in Massachusetts when the law regarding the statistical audit was very simple, it must conform to IRS standards.

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

• Free but has file size limitations
• Designed to keep up with AI audit revolution
• Short term forecasting

• Handle accounts with millions of records
• Automatied AI long term forecasting
• Forensic accounting tools
• Following links provide info for Auditmetrics overview

     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.

• Rigorous and mathematically sound audit processes and data mining.
• AI feature for audits, financial forecasting and market research.
• Accepts data from various accounting management systems like QuickBooks
• Auditmetrics support with educational materials.
• If you follow the learning by doing system of Auditmetrics,
    you will soon be pleased with your advancement of knowledge.

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

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