US 12,309,045 B2
Data-driven, risk and activity-based dynamic audit application and method
Harold Irving Zeidman, Fountain Hills, AZ (US); Tammy Lynn Suber Mooney, Lakeside, TX (US); Karl Joseph Busch, Concord Township, OH (US); Amy Renee Pawlicki, Morristown, NJ (US); James Matthew Young, Jr., Ballwin, MO (US); Karen Chrosniak Larsen, Coudersport, PA (US); Christopher Travis Webb, Denver, CO (US); Jennifer Jean Wood, Rochester, NY (US); George Herrmann, Stamford, CT (US); Jessica Elizabeth Estrella, Ocean, NJ (US); and Steven Edward Morrison, Hollywood, FL (US)
Assigned to American Institute of Certified Public Accountants, Durham, NC (US)
Filed by American Institute of Certified Public Accountants, Durham, NC (US)
Filed on Dec. 15, 2022, as Appl. No. 18/082,033.
Claims priority of provisional application 63/289,845, filed on Dec. 15, 2021.
Prior Publication US 2023/0188438 A1, Jun. 15, 2023
Int. Cl. H04L 43/06 (2022.01)
CPC H04L 43/06 (2013.01) 22 Claims
OG exemplary drawing
 
1. A system that implements a data-driven, risk and activity-based dynamic audit application, the system comprising:
an interface that communicates with one or more users via a communication network;
an Activity Database that stores and manages one or more Activities wherein each Activity comprises an Input, an Action and an Output;
a Documentation Database that stores and manages client data, external data and previous output data wherein the Documentation Database and the Activity Database are linked in a manner where the Input of the Activity is based on data from the Documentation Database and the Output of the Activity is used to update the Documentation Database;
a Risk/Response Library Database that stores and manages standard risks, risk groups, risk responses and control objectives; and
a computer processor coupled to the interface, the Activity Database and the Documentation Database, the Risk/Response Library Database and further configured to perform the steps of:
performing an initial action that generates a corresponding one or more outputs wherein the initial action is part of an audit engagement;
based on the corresponding one or more outputs, dynamically generating a set of activity options;
for each activity option, determining a score that represents a relative ranking against other activity options;
from the set of activity options and based at least in part on the score, identifying an optimal activity;
performing a next action that comprises the optimal activity;
generating a set of procedures specific to the audit engagement; and
identifying one or more relevant risks derived from one or more risk indicators within the Risk/Response Library Database based on the one or more outputs of the initial action and at least one output of the next action.