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Asset verification and validation (Gold)
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Asset verification and validation is a process of checking the accuracy and completeness of fixed assets, such as land, buildings, machinery, or equipment. It involves examining the related records and comparing them with the physical assets. The auditor should verify the records by reviewing the internal controls and documentary evidence. AI can help with asset verification and validation to ensure that the assets are properly recorded, valued, owned, and used by the organization.

Benefits
  • Credit decisions can be made simple
Implementations
  • Banks- To avoid manual mistakes in authentication and avoid fraud transactions 
  • Financial/lending/insurance institutions – To avoid fraud transactions