FastAudit AI

Why Fast Audit AI services

Audit firms

Fast Audit AI provides an instant anomaly assessment of company’s full financial accounts. The system highlights potential risk areas based on statistical analysis of individual line items vis-à-vis a group of comparable entities, called a cluster. Auditors see which items warrant closer attention while retaining their intellectual autonomy. The audit remains a matter of auditors’ professional judgment with our system as an analytical support tool. Fast Audit AI is an ideal tool to accompany auditors in the planning phase for a sound risk-based approach, providing valuable insights for better allocation of resources.

Investors

Fast Audit AI serves as a critical tool for smart investors expediting and enhancing the financial analysis workflow. We dissect a company’s key accounting metrics by comparing them to a cluster of listed and privately-held peers. Each balance sheet and income statement item is individually compared to the corresponding cluster average for the period selected. Fast Audit AI offers actionable insights into the underlying fundamentals, facilitating a deeper assessment of the company's core financial health, its valuation drivers and investment potential.

Private Capital Teams

We accelerate your deal flow, saving you time and money by checking your target's financial accounts for any anomalies at the beginning of the due diligence process, leading to faster deal closing. By automating and accelerating the analysis we allow you to screen more prospects and focus on more complex, value-adding cognitive tasks.

About Us

Fast Audit AI instantly detects financial anomalies using rules-based and ML algorithms at a fraction of the cost of alternatives.

Our flagship product provides an instant anomaly assessment of company’s full financial accounts. The system highlights potential risk areas based on statistical analysis of individual line items vis-à-vis a group of comparable entities, called a cluster. Each balance sheet and income statement item is then individually compared to the corresponding cluster average for the period selected.

The Team

We are a multidisciplinary team consisting of three founders and several domain expert associates: former Big 4 senior Audit executives, Heads of Sales in brand-name financials, academics, Data Scientists, actual scientists, mavericks and seasoned entrepreneurs.

Wojtek Buczynski, CFA, FRM

Co-Founder, Chief AI Officer, COO

PhD Candidate – AI, Cambridge University

London Business School Master's in Finance graduate

15+ years of experience in financial services and applied analytics focusing on AI, compliance and governance.
Former senior manager at EY, KPMG and Fidelity where he led on AI, data analytics and emerging tech use cases.
Previous experience in designing, testing, delivering portfolio analytics and risk systems at Bloomberg, StatPro and Northern Trust.
Published researcher.

Julian Seydoux

Co-Founder and CEO

London Business School Master's in Finance graduate

15+ years of experience as an entrepreneur / adviser and finance.
Ex-CEO of data management platform, and ML-driven FinTech and Health-tech, focusing on methodology and approach
Exited founder of a FMCG company in China, growing from 0 to $20mln contract worth, posting 30+ % EBITDA margins.
Ex-Moody’s, Consilium Capital, Santander, KPMG.

Jingkun (Charly) Zhu

CTO / AI Engineer

King's College London Master's in AI graduate

Extensive knowledge and experience in building AI solutions, particularly in combining Large Language Models (LLMs) with traditional Machine Learning (ML) models.
Worked at Cofco and Unity and is co-founder of StreamBid, a leading intelligent platform for online bidding.
Masters in AI from King’s College London (KCL); Interned at TsingHua University under Prof. Zhidong Deng.

Faq

Frequently Asked Questions

Everything you need to know before trying Fast Audit AI — from security to data sources and integrations.

Absolutely not. User-uploaded data remains private and confidential.

Furthermore, please note that for added peace of mind you can also use codenames for company names – this way literally no one except you will know what entity’s financials you have uploaded. We discovered that not only had out algorithm flagged up all the cases, it sometimes picked them up years before issues surfaced.

We have back-tested it extensively. We started by running it on all entities whose audits / auditors were sanctioned by the Financial Reporting Council (FRC) – UK’s audit industry regulator.

We have conducted similar tests on a number of entities worldwide, with similar success.

Given the nature of our analytics, we need to be very tight with the wording. By “anomaly” we mean literally a statistical anomaly (outlier); between 1 and 1.5 standard deviations – vis-à-vis adjusted cluster average – for a warning and above 1.5 standard deviations for an alert.

An anomaly could mean a variety of things, including but not limited to:

Something that is perfectly explainable in the context of company’s legitimate actions.
A perfectly legitimate company going through financial distress, which results in financial statement data being volatile.
A potential accounting irregularity.

The judgement as to which of the above is likely the case is with the User. Fast Audit AI is merely an analytical support tool. Our aim is to augment finance professionals, not replace them.

We use a mix of commercial, third-party data vendors and public domain sources (e.g., Companies House in the UK and similar repositories worldwide).

In addition to using high-quality data sources, we do extensive data Quality Control in-house, thoroughly verifying market data before running it through our algorithms and presenting to the Users.

We offer various packages, suitable for all types of clients.

For individual and small business users we have “pay per view” package whereby they are charged per individual company they review.

For enterprise clients we offer a number of packages, which include different functionalities, tailored to the client’s needs. Enterprise packages come with individually agreed-upon amount of account credits which can be used on various companies’ analytics on our system. Enterprise package limits refresh annually, but clients can purchase additional credits at any time should they need them.

Please use a message form on the bottom of our website or drop us a message directly to info@fastaudit.ai.

NO. We enhance and augment auditors’ capabilities workflows, but we do not replace them. Auditors retain their intellectual autonomy, and they make the final judgement calls when reviewing and qualifying their clients’ financial statements.

A cluster is based on a similar premise as industry classification (GICS, BICS, ICB etc.) – but based on a different methodology. While industry classifications are based on qualitative data (company descriptions), our clusters are based on quantitative data (financial characteristics). This allows us to put genuinely like-for-like entities in the same clusters.

Clustering is Fast Audit AI’s proprietary IP. The number of clusters as well as boundaries between clusters remain fluid, and our Machine Learning algorithms revisit and adjust them on a regular basis.

We do not. Our analytics run on rules-based and Machine Learning algorithms, which makes the issue of hallucinations – which should technically be referred to as “confabulations”, but that’s a topic for a separate conversation – moot. Our algorithms are purely quantitative and do not hallucinate; ever.

From the analytical perspective, our origin story is grounded in many years of research and first-hand industry experience of our founders and associates.

From the business perspective, our origin story is centred around three smart individuals (who happen to be IRL friends of many, many years) who got together when the market and the technology were ready.

We are a cloud-first company. Our data is securely stored and processed by Amazon Web Services (AWS) on servers based in the EU.

The EU AI Act does not technically apply to Fast Audit AI: we are a UK company, and we do not engage in any activities that explicitly fall under the Act’s purview.

Having said that, we are proactively compliant with all the relevant and applicable provisions of the Act.

Detect anomalies in a company's financial accounts instantly using Machine Learning.

6 weeks

£50,000

20x efficiency

Our flagship product uses AI to enhance Audit and Investment Due Diligence workflows by uncovering actionable insights that could remain undetected otherwise. We increase auditors' and investors' productivity and allow them to focus on high-value, high-margin cognitive tasks.