Midship

What is Midship?

Midship is an innovative AI-powered platform designed specifically for automating Sarbanes-Oxley (SOX) compliance testing and beyond. Built on standards from the Institute of Internal Auditors (IIA), it empowers audit teams to handle complex financial and operational controls with unprecedented efficiency. Whether you're dealing with IT general controls (ITGC), manual financial reviews, or security protocols, Midship's intelligent agents take over repetitive tasks, allowing professionals to focus on high-judgment activities that truly drive value.

In the world of regulatory compliance, SOX testing often involves tedious documentation, data gathering, and verification processes that consume countless hours. Midship addresses this pain point head-on by autonomously performing tests, linking evidence to conclusions, and producing audit-ready work papers. Trusted by public companies, it's not just a tool—it's a game-changer for internal audit departments aiming to reduce costs while maintaining rigorous quality standards.

How Does Midship Work?

At its core, Midship operates through a seamless workflow that integrates AI agents with your existing audit ecosystem. Here's a breakdown of the process:

1. Planning and Data Ingestion: Start by uploading your Risk and Control Matrix (RCM) or audit plan. Midship analyzes it to pinpoint controls ripe for automation—often automating 85% or more of your SOX program. You can drop in document dumps from tools of your choice, and the AI parses, classifies, and matches them to relevant samples without manual intervention.

2. Automated Testing: Once data is in place, Midship's agents follow your predefined audit procedures precisely. They extract supporting evidence, test control attributes (like password settings, user terminations, or bank reconciliations), and document every step. This isn't theoretical—it's battle-tested in live audits, where customers have automated up to 87% of their programs.

3. Work Paper Generation: The platform creates fully traceable work papers, compatible with Excel via a handy add-in. Every conclusion is hyperlinked to source documents, making reviews straightforward. You can use Midship's templates or import your own formats, ensuring alignment with your team's preferences.

4. Review and Validation: Auditors review outputs directly in familiar tools like spreadsheets, with all values linked back to originals. This transparency builds trust and speeds up approvals, turning what used to take days into hours.

Midship's AI is grounded in real-world application, not hypotheticals. For instance, it handles diverse controls such as key report testing, access reviews, payroll tie-outs, deferred revenue rollforwards, and even privileged access recertification. The result? 10x more productive auditors who spend less time on grunt work and more on strategic insights.

Key Features of Midship

Midship stands out with features tailored for SOX and security auditing:

• Comprehensive Control Support: From ITGC and business processes to financial reviews like accruals, invoice approvals, and journal entry thresholds. It covers everything from new vendor dual approvals to quarter-end certifications.

• Excel Integration: The Midship Excel Add-in lets you stay in your workflow, reviewing evidence without switching applications.

• Scalable Automation: Identify and automate any three controls during a free two-week trial, calculating ROI with minimal effort.

• Security-First Design: SOC 2 Type 2 compliant, with options for your own storage solutions and automated data retention policies. Confidentiality and integrity are non-negotiable, especially for sensitive audit data.

These elements ensure Midship isn't just efficient—it's secure and compliant, meeting the highest industry standards.

Use Cases for Midship

Midship shines in scenarios where audit volume is high but resources are stretched thin. Consider these practical applications:

• Public Company SOX Compliance: Automate testing for listed firms, reducing co-sourcing costs from external consultants while upholding audit quality.

• Internal Audit Teams: For departments bogged down by manual reviews, Midship frees up time for risk assessment and advisory roles.

• Security and IT Audits: Test password policies, user terminations, and config settings with AI precision, integrating seamlessly into broader compliance efforts.

• Financial Process Validation: Tie out payroll, reconcile banks, or review accruals—Midship handles the heavy lifting, providing documented evidence for regulators.

In one real-world example, teams using Midship report cutting testing time dramatically, with work papers that are immediately reviewable and defensible.

Who is Midship For?

This tool is ideal for:

• Audit Managers and Professionals: Those seeking to boost productivity without sacrificing accuracy.

• CFOs and Compliance Officers: Looking to optimize SOX programs and minimize external spend.

• Mid-to-Large Enterprises: Especially public companies navigating complex financial reporting requirements.

If your team struggles with repetitive SOX tasks or wants to experiment with AI in auditing, Midship is a perfect fit. It's particularly valuable for organizations prioritizing data-driven decision-making in compliance.

Why Choose Midship?

In a landscape crowded with general AI tools, Midship's specialization in SOX testing sets it apart. It delivers tangible ROI—customers see savings from day one, with automation rates up to 87%. Plus, the free trial lets you validate on your own data in under an hour: pick three prior-cycle controls, run them through Midship, and compare results side-by-side.

Beyond efficiency, Midship enhances audit quality by ensuring every step is traceable and standards-compliant. No more errors from manual entry or overlooked evidence. As one user noted, it's like having an extra team member who never tires.

Getting Started with Midship

Ready to transform your SOX testing? Book a demo to see it in action, or start the trial to automate controls effortlessly. With features like document parsing, AI-driven testing, and Excel compatibility, Midship streamlines the journey from data upload to final review.

For SOX compliance challenges, AI audit automation is the future—and Midship leads the way. Discover how it can automate your controls, create auditors 10x faster, and cut costs without compromising integrity.