Audavis AI provides an intelligent platform utilizing advanced AI for annual financial statement audits, ensuring full transparency across a client's entire transaction history. Users can configure a mandate-specific AI copilot to analyze imported documentation and automatically prepare audit working papers. The system delivers quantitative risk assessments for every line item and automates the creation of analyses, enhancing audit efficiency and security.
Funding
$1.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional auditing processes involve extensive manual data extraction, analysis, and documentation, leading to high costs and time consumption for auditors. The lack of dynamic data models and interactive dashboards hinders real-time insights and efficient compliance checks.
Solution
Audavis offers an AI-powered audit platform that automates data extraction, analysis, and documentation, enabling auditors to process client transaction data with greater speed and reduced costs. The platform leverages AI to create dynamic data models from client data, which can be further processed into a variety of interactive dashboards. These dashboards provide auditors with an explorative view of client data, supporting audit-related advisory services. Audavis also generates data-driven workpapers that align with standard audit documentation practices, ensuring compliance with IDW PS and ISA (DE) standards.
Target Audience
The primary target audience includes accounting firms, auditors, and financial professionals seeking to streamline audit processes, improve data analysis, and ensure compliance with auditing standards.
Features
- Automated data extraction from various accounting systems
- AI-driven analysis to identify anomalies and risks in transaction data
- Dynamic data models that allow for flexible aggregation and disaggregation of client data
- Interactive dashboards for real-time data exploration and visualization
- Data-driven workpapers pre-filled with client data for efficient documentation
- Compliance with IDW PS and ISA (DE) audit standards
- Cloud-based infrastructure ensuring high analysis speeds and low costs