# Livo Assistant for Internal Audit: AI for Continuous Auditing & Full-Population Testing Source: https://livoassistant.com/internal-audit On-premise AI for internal audit teams: full-population transaction testing, continuous control monitoring, risk-based audit planning, and working-paper drafting. Aligned to IIA Standard 2320 and SA 240. --- Livo Assistant for Internal Audit: AI for Continuous Auditing & Full-Population Testing AI FOR INTERNAL AUDIT # Move From Sampling to Full Coverage On-premise AI for internal audit teams. Test the whole population, monitor controls continuously, and draft the working papers, so your team spends its time on judgement, not tie-outs. [Talk to a founder → ](https://livoassistant.com/internal-audit#contact) Free guide The Internal Audit Readiness Guide — 8-page PDF for CAEs & audit managers. [Read the guide → ](https://livoassistant.com/guides/internal-audit) 100% Population Every transaction tested, not a sample Continuous Controls monitored on a schedule, not once a year On-Prem ERP and audit data never leave your infrastructure Weeks From pilot to a live audit INTERNAL AUDIT AI ## Digitize, Search, Detect, Report. Configured for the Audit Plan. One stack across the internal audit cycle: test the full population, watch the controls between audits, scope the plan from real risk signals, and draft the papers. [01] ### Full-Population Transaction Testing Test every journal entry, expense, and payment against the risk criteria, not a sample, and surface the items that need review. - 100% coverage of the ledger, expenses, P-cards, and vendor payments - Risk criteria aligned to SA 240 and IIA Standard 2320: back-dated entries, round amounts, rare accounts, unusual users - Each flag scored and linked to its source document and approval trail - Replaces judgemental and random sampling with a ranked exception list 100% Coverage SA 240 / IIA 2320 Source-Linked Internal Audit SOX / ICFR Bank & Insurer Audit [02] ### Continuous Control Monitoring Watch the controls between audits with scheduled runs over ERP data, and get alerted when something drifts. - Scheduled checks over ERP, HR, and access data on a cadence you set - Segregation-of-duties conflicts, access changes, and threshold overrides flagged - Master-data changes to vendors, bank details, and payroll tracked and alerted - Trend view so a control weakening over time is visible before year-end Always On SoD Conflicts Drift Alerts Controls Testing Risk & Compliance Shared Services [03] ### Risk-Based Audit Planning Scope the annual plan from real signals instead of last year's plan, and defend the coverage decisions. - NLP over incident logs, tickets, whistleblower reports, and policies to sense emerging risk - Prior findings mined for unresolved and recurring themes across the auditable universe - Risk scoring by entity, process, and location to rank what gets audited - A documented, evidence-backed basis for the plan the audit committee sees Signal-Driven Defensible Plan Recurring-Issue View Chief Audit Executive Audit Planning Enterprise Risk [04] ### Working Papers & Report Drafting Turn fieldwork notes and flagged exceptions into structured working papers and a draft report, left for review and sign-off. - Drafts working papers, findings, and the report from fieldwork notes and exceptions - Every assertion cited back to the source document or system record - Formatted to your methodology and the applicable standard - The auditor reviews and signs off; the system drafts, it does not conclude Source-Cited Methodology-Ready Human Sign-Off Fieldwork Reporting QA Review WHAT LIVO SURFACES ## The Exceptions a Sample Was Never Going to Catch Control failures and leakage hide in the 95% that sampling never looks at. Livo runs these checks across the full population, on the cadence you choose. #### Segregation-of-Duties Conflicts The same user creating a vendor and approving its payment, or raising and releasing a purchase order, across the live access model. #### Duplicate & Split Payments Identical or near-identical invoices paid more than once, and payments split to stay below an approval threshold. #### Ghost Vendors & Employees Vendor or payroll records with no operating footprint, shared bank details, or creation just before a payment run. #### Off-Hours & Period-End Entries Journal entries posted at unusual hours, on weekends, by unexpected users, or clustered at period-end. #### Expense-Policy Breaches Claims above policy limits, split claims, weekend and duplicate claims, and out-of-policy categories at full volume. #### Dormant-Account Activity Sudden movement on accounts, cards, or logins that have been inactive for months. #### Master-Data Tampering Changes to vendor bank details, payment terms, or credit limits, especially those reversed shortly after a payment. #### Recurring & Systemic Issues The same finding surfacing across units and years, pointing to a control design gap rather than a one-off. Livo is engaged by internal audit and compliance teams at banks, insurers, and large corporates. Engagements run under NDA and we do not disclose client names. The illustrative capability figures on this page describe how the system works, not a specific client result. HOW WE ENGAGE ## Three Steps. Zero Risk. Your Data Stays Home. We start with two completely free steps. Every engagement is under NDA and deployable fully on-premise before you commit a rupee or a dollar. 01 ### Free Internal Audit AI Workshop A focused session with your Chief Audit Executive and audit managers to map where AI adds coverage, whether full-population testing, continuous monitoring, planning, or reporting, against your current audit plan. 100% Free 02 ### Free AI Roadmap A prioritized implementation plan with effort estimates, scoped to your ERP, your audit-management tool, and the processes on this year's plan. Yours to keep with no obligation. 100% Free 03 ### Pilot on a Real Audit We build a working pilot on one audit from your plan, on your actual ERP data, deployed inside your infrastructure with full audit logging. You see the exceptions before you commit beyond the pilot scope. Your Decision ### Ready to See What Full-Population Testing Surfaces? Start with the readiness guide, or book 30 minutes with a founder to map where AI adds the most coverage on your work. EVIDENCE INTEGRITY & INDEPENDENCE ## Built So the Findings Hold Up Internal audit's work is reviewed by external audit, the audit committee, and the regulator. Every system we deploy is built around evidence integrity, explainability, and the auditor's independence. #### On-Premise Deployment Deployed inside your infrastructure. ERP extracts, working papers, and findings are not sent to external servers or third-party APIs. #### Immutable Audit Trail Every extract ingested, test run, and exception raised is logged with timestamp, parameters, and source hash. Any run can be reproduced. #### Explainable, Source-Linked Output Each exception states the rule that fired and links to the source record. No opaque risk scores your external auditor cannot follow. #### Auditor in the Loop The system tests and ranks; it does not conclude. Every exception is dispositioned by your team. The tool assists the audit, it does not form the opinion. #### Standards Alignment Test criteria map to SA 240 fraud-risk indicators and IIA Standard 2320 on analysis and evaluation, so the approach is defensible on review. #### Entity & Audit Segregation Role-based access with separation between entities and audits. Data for one audit is not visible to a team working another. #### DPDP 2025 & GDPR Compliant Personal data is handled in line with India's Digital Personal Data Protection Rules (2025) and the GDPR, with data residency configurable. #### Works With Your Stack Connectors for SAP, Oracle, and other ERPs, and for audit-management tools such as AuditBoard and TeamMate. The AI layer sits on top. WHY LIVO ASSISTANT ## Internal Audit AI Without the Enterprise Price Tag Sampling covers a fraction. GRC suites manage the workflow but do not test the data. We test the full population, on your infrastructure, and hand back a ranked exception list. Aspect Sampling + Spreadsheets / GRC Suites Livo Assistant for Internal Audit Test Coverage Judgemental sample **Full population ** Control Testing Point-in-time **Continuous, on a schedule ** Planning Basis Last year's plan, adjusted Risk signals from incidents, tickets, and prior findings Reporting Manual write-up Drafted from evidence, cited, left for sign-off Deployment Vendor cloud **On-premise by default ** Discovery / Workshop Paid consulting **Free ** Pilot to Live Audit Months 4–6 weeks Start with zero risk. Get an internal audit AI roadmap scoped to this year's plan before committing a rupee or a dollar. INTERNAL AUDIT FAQ ## Questions Internal Audit Leaders Ask Us What Chief Audit Executives and audit managers want to know before bringing AI into the function. No. The system runs the full-population tests, monitors the controls, and drafts the papers. Every exception is dispositioned by your team, and the opinion stays with your team. It removes the tie-out work so auditors spend their time on judgement. You set the cadence per check. Access and segregation-of-duties reviews might run daily, payment testing weekly, master-data monitoring on change. The system pulls the extract, runs the tests, and alerts on new exceptions and on trends. Yes. We build connectors to AuditBoard, TeamMate, and similar tools, and to your ERP. Exceptions and drafted working papers flow into your existing workpaper structure rather than a separate system. Test criteria map to SA 240 and IIA Standard 2320, every exception links to source, and every run is logged and reproducible. Your external auditor can follow any finding from the flag back to the record. Yes. The standard deployment is inside your infrastructure. ERP extracts, working papers, and findings are not sent to external servers or third-party APIs. Typically 4–6 weeks. The tests configure quickly once the ERP extract is defined; the longest step is usually agreeing the data pipeline and access. FREE GUIDE ## The Internal Audit Readiness Guide Risk-based planning, the data-acquisition model, full-population test design by process, and quality-assessment readiness. For CAEs and audit managers. [Get the guide → ](https://livoassistant.com/get-the-guide?guide=internal-audit) LEADERSHIP ## We bring McKinsey-grade strategy with senior AI engineering execution ### Soumya Sharma Co-Founder Ex-McKinsey IIM-Ahmedabad IIT-Delhi, Computer Science [Connect on LinkedIn ↗ ](https://www.linkedin.com/in/rithn/) ### Kangana Pandiya Co-Founder Ex-McKinsey IIM-Ahmedabad [Connect on LinkedIn ↗ ](https://www.linkedin.com/in/kangana-pandiya/) ## Let's Map Your Internal Audit AI Opportunity Book a 30-minute discovery call. We'll identify the highest-leverage use case on your plan, whether full-population testing, continuous monitoring, planning, or reporting, and map a clear implementation path. Thank you! We'll reach out within 24 hours to schedule your discovery call. Or [email us directly ](mailto:soumya@livoassistant.com)