Machine Learning for Auditors: Automating Fraud Investigations Through Artificial Intelligence

© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2022

M. SekarMachine Learning for Auditorshttps://doi.org/10.1007/978-1-4842-8051-5_3

3. Existing Solutions

Maris Sekar¹  

(1)

Calgary, AB, Canada

 

This chapter will look at some of the current solutions available in the space of auditing. The solutions mentioned here are by no means a complete listing, but they are some of the most commonly used technologies in the field of risk management. The solutions include substantive testing, CAATs, process mining, and continuous auditing.

Substantive testing is used to ensure the numbers stated in financial statements are accurate. Substantive testing or test of details use 100% of the data to ensure numbers balance. This ...