Midship

What is Midship?

Midship is an advanced AI platform designed to accelerate and automate financial audit procedures by transforming unstructured documents into structured, audit-ready workpapers within minutes. It automates repetitive, document-based audit tasks such as invoice matching, date verification, and sample testing, while ensuring full transparency and traceability of AI findings. Midship’s AI custom-learns specific document layouts and intelligently maps extracted data into standardized formats, supporting a wide range of document types across industries. The platform integrates seamlessly with existing workflows, including Excel, enabling auditors to focus on critical analysis instead of manual data entry.

Key Features

• Automated Document Processing

  AI structures, categorizes, and auto-matches documents to audit samples, eliminating manual sorting and accelerating audit preparation.

• AI-Powered Audit Tests

  Runs key audit procedures on samples to verify accuracy, completeness, and compliance with customizable rules and thresholds.

• Pre-Built and Customizable Audit Programs

  Offers methodology-aligned templates for key audit cycles like Accounts Payable, Receivables, Revenue, Payroll, and more, tailored to firm and client needs.

• Full Transparency and Reviewability

  Links every AI-generated test result to supporting evidence, allowing auditors to easily review, validate, or override findings.

• Excel Integration and Workpaper Generation

  Generates structured Excel workpapers with findings and evidence, plus an Excel add-in for running AI checks directly within spreadsheets.

• Enterprise-Grade Security

  Implements advanced encryption and strict access controls to protect sensitive financial and audit data.

Use Cases

• Financial Audit Automation : Streamlines the entire audit process by automating document review, sample testing, and workpaper preparation.
• Data Extraction from Complex Documents : Extracts and structures data from PDFs, spreadsheets, and reports for use in financial analysis and compliance.
• Audit Compliance and Quality Assurance : Ensures audit procedures comply with firm standards and regulations, providing traceable and verifiable AI findings.
• Workflow Integration for Audit Teams : Seamlessly integrates with existing audit workflows and tools, enhancing efficiency without disrupting current processes.
• Risk Identification and Analytical Procedures : Supports auditors in uncovering anomalies, control gaps, and risks through AI-powered analytical tests.

FAQs