The Big Four firm **EY** has recently unveiled a suite of new AI-driven solutions aimed at enhancing the efficiency of its assurance professionals. This initiative is part of EY’s broader **$1 billion investment** in artificial intelligence and technology, intended to fundamentally transform the auditing landscape.
Marc Jeschonneck, EY’s global assurance digital leader, noted that **”Through its $1 billion 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.”**
One of the key new solutions is **EYQ Assurance Knowledge**, which harnesses generative AI to facilitate detailed searches and summarizations of accounting and auditing materials. By integrating this tool into the EY Assurance technology platform, the AI provides tailored responses to audits based on factors such as geography, industry, and complexity.
Another feature is the upgraded **EY Intelligent Checklists with AI**, which assists audit professionals by recommending responses to disclosure checklist questions to comply with accounting standards and legal regulations. Moreover, enhancements to the **EY Financial Statement Tie Out** tools will aid in maintaining accuracy and integrity across different iterations of company financial statements.
Paul Goodhew, EY’s global assurance innovation and emerging technology leader, expressed excitement about the potential of these new AI capabilities, stating, **”This launch of new AI capabilities is the first of a series of generative and agentic AI technologies which build on the strong foundations established by integrated and transformative technology. This supports the EY organization’s ambition to become the world’s most trusted AI-powered assurance provider.”**
Additionally, EY is expanding AI initiatives across its operations. Recently, the firm introduced AI capabilities in the **EY Blockchain Analyzer** with a Smart Contract and Token Review tool, designed to enhance the detection of vulnerabilities in smart contracts and streamline the review process using natural language prompts and automated testing.
- 0 Comments
- Assurance