Audit prep your practice runs without rebuilding the file every audit cycle.
Let AI Agent run your audit preparation
Lead schedules
"Prepare the lead schedules for this client's statutory audit in Xero. Pull the trial balance at the year-end, the comparative balances and the prior-year audit adjustments, then build a lead schedule per balance sheet section and per significant P&L account. Tie every lead schedule to the underlying nominal, attach the agreed supporting working papers, and carry forward unresolved points from last year's file. If a balance has moved more than the planning materiality, ask me whether to draft a query for the senior. Pause before locking any lead schedule. Ask me where the practice files its audit working papers. Save the schedules and working papers to Google Drive ready for the senior review."
Bank confirmations
"Prepare bank confirmation letters and the circularisation pack for this client's year-end audit. Draft the bank confirmation letter for every bank account on the ledger with the year-end balance, the interest accrued and any loan covenant detail required by the auditor. Draft the debtor and creditor circularisation letters for the sample the senior approves. Send the letters from Gmail through the agreed channel, track responses and chase non-responses after the agreed waiting window. If a response shows a difference, ask me whether to clear it as a reconciling item or to escalate. Save responses, chases and reconciling items to Google Drive ready for the auditor."
Sample selection
"Build the journal entry testing sample for this client's year-end audit in QuickBooks. Apply the practice's risk-based selection rules: round-sum journals, journals posted outside business hours, journals to suspense or other key risk accounts, and a random selection across the rest. Pull the supporting document and the originator for each sampled journal, and prepare the query list per the auditor's expectations. If a journal lacks supporting evidence, ask me whether to chase the client or refer the item to the senior for evaluation. Pause before circulating the sample list. Save a note for the practice manager listing the sample, items missing evidence and queries for the senior to review."
Audit trail pack
"Assemble the audit trail pack for this client's external audit in Sage 50. Compile the agent activity log, the lead schedules, the bank confirmations, the circularisation responses, the journal entry testing sample and the supporting working papers into a single audit file structured per the auditor's index. Tie every document to its source, and include the senior approvals captured at each gate. If a working paper is incomplete, ask me whether to wait for the senior or to send a partial file with a covering note. Pause before sharing the pack with the external auditor. Save the audit pack to Google Drive and notify the senior by email."
Audit prep without manual sampling
Sampling, walkthroughs, lead schedules and confirmations stop running on senior time per client. The AI Agents prepare the file across the audit book, which delivers up to 80% lower cost to serve per audit, with engagement partner review kept on judgement and sign-off.
Audit prep that remembers last year's adjustments
A real audit file is mostly continuity. Minded carries forward the prior-year working papers, the audit adjustments, the queries that were unresolved and the points the auditor wanted next year. The next prep starts where the last one ended, and time goes to changed items. Tie this to year-end close with AI so close and audit prep share working papers.
One audit file across Xero, QuickBooks, Sage 50 and FreeAgent
A real practice prepares audit files for clients on Xero, QuickBooks, Sage 50 and FreeAgent at the same time, and the agent runs the same lead-schedule, sample-selection and audit-pack motion natively inside every ledger. See statutory reporting with AI and month-end close with AI for the surrounding cycle around the audit.
How is this different from MindBridge, Caseware or other AI audit tools?
MindBridge and Caseware sit on the audit firm side, helping the auditor analyse a client's general ledger and run testing procedures. Minded sits on the prepared-by-client side, preparing the audit file the external auditor receives: lead schedules, bank confirmations, supporting documents and the supporting working papers.
Does the agent handle FRS 102 and FRS 105 audit-exempt scenarios?
Yes. For FRS 102 reporters the agent prepares the full audit file. For FRS 105 micro-entities, where audit is rarely required, the agent prepares the simpler statutory accounts pack with the directors' approval notes and the prior-year comparatives, ready for filing at Companies House.
What controls are in place for the external auditor reviewing AI-generated work?
Every step the agent takes is logged: which document it read, which calculation it ran, which rule it applied, who approved the output. The external auditor receives the working papers plus the agent activity log, which becomes part of the audit evidence file.
Can the agent prepare bank confirmations and circularise debtors and creditors?
Yes. The agent prepares the bank confirmation letters for the year-end balances, drafts the debtor and creditor circularisation letters, posts them through the agreed channel and tracks responses. Non-responses are chased; differences are summarised for the senior with the supporting evidence attached.
How does the agent log its work for the auditor's documentation review?
The agent maintains a structured log per audit area with the steps performed, the source data and the output. The log meets the documentation standards the auditor expects to rely on prepared-by-client work, and includes the senior approvals captured at each gate inside the file.