AuditFile receives patent for artificial intelligence in financial statement audits

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Verification file, Inc., developer of the award-winning cloud-based audit automation platform, has been granted patent 10,891,294 from the United States Patent and Trademark Office (USPTO). The patent covers the application of artificial intelligence to audits of financial statements. The company continues to fulfill its mission of offering a sophisticated toolset that helps practitioners improve the efficiency of audit processes, while ensuring that the software itself remains simple to use for all technological capabilities.

The AuditFile approach allows auditors to seamlessly advance audits year after year, while graciously handling updates to statements and professional standards.

“Many people in the accounting industry have talked about applying artificial intelligence to auditing. We are the only ones who have a patent issued for this, ”said Steven Bong, Founder and CEO of AuditFile. “This patent is the result of a decade of hard work. We will continue to innovate. This is just the beginning.”

AuditFile is the only comprehensive cloud-based all-in-one audit automation platform for accounting professionals. Available in three subscription options, AuditFile easily adapts to the specific needs of businesses of all sizes and specialties, and includes data storage, web-based training, and technical support as part of the subscription fee.

Founded by CPAs in 2011, AuditFile, Inc. provided the industry’s first fully cloud-based audit automation solution to help businesses of all sizes perform audits more efficiently and effectively. AuditFile is designed to provide auditors with a simple yet sophisticated solution that combines working paper and trial balance management, audit workflow and methodology into an open platform that easily integrates with programs. and the company’s existing technological environment. For more information visit www.auditfile.com.


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