EY rolls out AI tools for 140,000 auditors
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The news: EY is rolling out generative AI tools across its audit and assurance divisions, which will assist staff with searching and summarising accounting and auditing content.
The numbers: EY’s 140,000 audit staff currently handles around 160,000 audits per year. The company is in the third year of its USD1 billion ($1.6 billion) Assurance technology investment.
The context: The GenAI powered tool, EYQ Assurance Knowledge, which will be integrated into the EY Assurance platform workflow also provides responses for auditors based on the profile and context of the audit engagements for companies served, including geography, industry and complexity.
The tool also helps auditors with accuracy and integrity checks, and can help create disclosure checklists. The company said it plans to release over 30 new capabilities in 2025.
What they said: Marc Jeschonneck, EY Global Assurance digital leader, said: “Through its USD1b technology investment, EY is bringing AI right to the heart of the audit, accelerating its transformation. This elevates the attractiveness of EY for talent and equips EY professionals with technology capabilities to shape the future with confidence.”
The source: EY press release
