Intellectual Property India Publishes Patent Application for Automated Internal Audit System For Financial Reporting Verification And Risk Assessment

MUMBAI, India, Sept. 22 -- Intellectual Property India has published a patent application (202621091687 A) filed by Dr. Deepti Patnaik; Dr. Maitreyi Thapliyal; Dr. Vandana Saxena; Dr. Sangeeta Chauhan; Ms. Karthigai Selvi. U; Dr. Jotesh Gupta; Dr. Nishant Kumar Singh; Dr. Angel Priya J; S Keerthika; Mrs. Pooja Sarang A. Dani; Prof. Sachin D. Kshirsagar; and Prof. Dr. Harikumar Pallathadka on July 28, 2026, for Automated Internal Audit System For Financial Reporting Verification And Risk Assessment.

Inventors include Dr. Deepti Patnaik; Dr. Maitreyi Thapliyal; Dr. Vandana Saxena; Dr. Sangeeta Chauhan; Ms. Karthigai Selvi. U; Dr. Jotesh Gupta; Dr. Nishant Kumar Singh; Dr. Angel Priya J; S Keerthika; Mrs. Pooja Sarang A. Dani; Prof. Sachin D. Kshirsagar; and Prof. Dr. Harikumar Pallathadka.

The application for the patent was published on September 18, 2026, under issue no. 38/2026.

Abstract: The present invention relates to an automated internal audit system for financial reporting verification and risk assessment configured to continuously acquire, validate, and analyse financial information obtained from one or more enterprise systems. The system comprises a financial data acquisition module, a financial reporting verification engine, an anomaly detection module, a dynamic risk assessment engine, a compliance assessment module, an audit workflow management module, and an automated reporting engine. The invention performs transaction-level reconciliation, identifies financial reporting anomalies, evaluates compliance with accounting standards and internal control frameworks, and dynamically generates organizational risk profiles. Continuous audit monitoring capabilities facilitate real-time detection of control deficiencies and emerging financial risks while automating audit scheduling, remediation tracking, and compliance reporting activities. The system enhances financial transparency, improves audit efficiency, strengthens organizational governance mechanisms, and provides scalable support for intelligent internal auditing across cloud-based, on-premises, and hybrid enterprise environments.

Disclaimer: Curated by HT Syndication.