🧔♂️ A friendly human may check it before it goes live. More news here
EY rolls out agentic AI tools for audits globally
EY said it is rolling out agentic AI tools for audits globally through its EY Canvas platform, as part of a multibillion-dollar investment in audit technology and staff.
The system uses a multi-agent framework integrated with Microsoft Azure, Microsoft Foundry, and Microsoft Fabric.
EY said Canvas handles more than 1.4 trillion lines of journal entry data a year across 160,000 audit engagements in over 150 countries and territories.
The tools encompass the daily workflows of 130,000 assurance professionals across all audit phases, with end-to-end audit support expected by 2028 after testing and pilots.
The firm also said it will train audit and technology risk staff this year as it expands the rollout.
🔗 Source: EY
🧠 Food for thought
Implications, context, and why it matters.
Agentic AI’s power comes from a specific multi-agent framework integrated into EY Canvas
- EY is adding a multi-agent framework to EY Canvas (its single, global assurance technology platform) so teams can apply AI across every stage of audits worldwide 1.
- The framework connects with Microsoft Azure, Microsoft Foundry, plus Microsoft Fabric 1.
- After broad testing and pilots, EY aims for the system to cover end-to-end audit work by 2028 1.
The AI audit race redefines the industry’s business model
- EY’s rollout raises the stakes for rivals such as PwC, another Big Four accounting firm that has also been promoting an AI-driven audit platform 2.
- Accounting firms expect richer client insights to move audits beyond compliance work into a higher-priced service with clearer business value 3.
- EY is expanding assurance services for audit clients plus non-audit clients, with offerings that include AI diagnostics, governance, risk management, and controls 4.
- Since 52% of departmental AI initiatives lack formal oversight, EY’s centrally governed platform may give it an edge with clients that want consistent controls and stability 3.
Recent EY developments
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.