Top AI & Financial Automation Tools to Enhance Audit Preparation 

Artificial intelligence (AI) in finance is here, reshaping how companies handle financial operations. From audit preparation to close management, AI and financial automation tools are being utilized to reduce manual workloads, uncover hidden risks, and improve accuracy. 

And where audit preparation is concerned, financial automation isn’t just a nice-to-have – it’s becoming more and more essential. 

With consultants guiding implementation and AI governance ensuring responsible use, companies can tackle audit readiness with more confidence. 

As experts in helping organizations drive audit success and efficiency, we’ve outlined some of the top AI and financial automation tools to help streamline audit preparation. 

Why is it important for companies to take a proactive approach to audit preparation? 

When working towards audit readiness, waiting until the last minute is the last thing you’ll want to do. For middle-market organizations – especially those that are scaling quickly or facing operational shifts – audit season can reveal more than just financial discrepancies. 

From weak processes and patchy documentation to bottlenecks that could’ve been fixed months earlier, focusing on audit preparation early means: 

• Reducing audit delays (and incurred costs) 

• Strengthening internal controls and workflows 

• Building credibility with external stakeholders 

• Identifying and fixing issues – before auditors do 

For a more detailed look and expert audit readiness tips, head to our blog: Audit Preparation: Key Considerations for First-Time Audits. 

The Role of AI in Audit Preparation: Top Tools for Financial Management 

1. AI Assistants for Financial Documentation & Analysis
2. AI and Automation in Reconciliation & Close Management
3. AI and Automation for General Audit Readiness: Exploring Netgain’s Powerful Functionality 

It’s important to note that artificial intelligence isn’t replacing finance teams – it’s making them sharper, faster, and more confident. Today’s tools function more like digital assistants, helping finance professionals with everything from reconciliations to documentation.  

And it’s not just about moving faster – it’s about gaining valuable new insights and empowering your team’s ability to identify audit blind spots early. 

AI Assistants for Financial Documentation & Analysis 

Tools like ChatGPT and Microsoft Copilot aren’t just being utilized to write emails. Where audit preparation is concerned, they’re proving especially helpful in reducing manual workloads. 

Use cases include: 

• Drafting audit memos, footnotes, and internal policy summaries 

• Flagging issues or inconsistencies in financial statements 

• Answering regulatory compliance questions using embedded financial models 

• Summarizing policy documentation and suggesting improvements 

AI and Automation in Reconciliation & Close Management 

Month-end close and reconciliations often slow down audit preparation – but automating these tasks helps save time, build confidence in your data, and reduce risk. 

Exploring FloQast’s AI & Automation Tools  

A favorite among finance teams – including ours at Bridgepoint – FloQast can be utilized to stay audit-ready year-round by streamlining the financial close process. 

This is done by: 

• Automating recurring close checklists and reconciliations 

• Integrating directly with ERPs and Excel for smoother transitions 

• Providing controllers and CFOs with real-time updates into task status and bottlenecks 

• Creating consistent audit trails to reduce the scramble at quarter- or year-end  

Exploring Gappify’s AI & Automation Tools  

Gappify is being utilized to manage the repetitive accounting tasks that soak up available time and resources, including: 

• Automating accrual entries, reconciliations, and confirmations 

• Reducing manual spreadsheet work and error rates 

• Sending automatic reminders for audit-related approvals 

AI and Automation for General Audit Readiness: Exploring Netgain’s Powerful Functionality 

Where FloQast and Gappify can be utilized for specific instances, think of Netgain as your full-service solution for audit preparation. These tools don’t just focus on one aspect to improve – they enhance everything from data integrity to compliance tracking. 

Data Consolidation & Accuracy with Netgain 

Netgain connects directly to your existing ERP, Excel files, payroll platforms, and other financial systems to consolidate essential data under one roof. It has options to flag anomalies and incomplete entries before they cause ripples to operations, ensuring clean, audit-ready financials every step of the way. 

By reducing time spent chasing down disparate documentation or clarifying inconsistencies, Netgain’s tools minimize the back-and-forth between busy finance teams and external auditors. 

Real-Time Reporting & Analysis with Netgain 

With built-in AI capabilities, Netgain can be utilized to detect unusual trends or potential misstatements well ahead of auditor review. By generating real-time dashboards that track key audit preparation metrics, finance teams can achieve faster reporting cycles and obtain more room to focus on strategic initiatives – not waste time scrambling to close the books. 

Workflow Automation & Compliance Tracking with Netgain 

Netgain keeps audit preparation on track by automatically monitoring internal control procedures, flagging any missed steps or policy gaps, and structuring workflows around audit timelines. This helps ensure consistent progress while providing a detailed audit trail that captures every change and approval.  

Final Thoughts on Top AI & Financial Automation Tools to Enhance Audit Preparation 

AI and financial automation tools are certainly raising the bar for audit preparation – but technology alone isn’t the answer, as it takes a smart, structured approach to turn those tools into real audit readiness. That’s where Bridgepoint Consulting comes in. 

We help growing companies prepare with confidence, whether that means evaluating current systems, implementing automation platforms like Netgain, FloQast, and Gappify, or building out controls that support accurate, audit-ready reporting.  

Our consultants know the ins and outs of financial close cycles, documentation standards, and compliance workflows – and we tailor our approach to meet the needs of your business. 

We also advise on AI governance and risk management, keeping your automation efforts secure, strategic, and audit ready. Whether you’re preparing for your first audit or looking to make improvements after some tough findings, we can assess your current processes, identify key gaps, and get you on solid ground before auditors ever walk through the door.