EY's AI Integration
2025-04-25 05:00:07
EY Accelerates Audit Transformation with Advanced AI Integration in Assurance Technology
EY’s Bold Investment in AI-Driven Assurance Technology
In an unprecedented move to reshape the auditing landscape, EY (Ernst & Young) has declared an extensive $1 billion investment in assurance technology, focusing on integrating cutting-edge artificial intelligence (AI) into its audit platform. This revolutionary step marks the beginning of a new phase in EY's ongoing commitment to innovate auditing processes and enhance user experiences for both auditors and the businesses they audit.
The Vision Behind the Investment
The investment will primarily support over 160,000 global audit engagements by refining the functionalities of one of the industry's leading assurance platforms. This initiative is aligned with EY’s broader transformation program aimed at leveraging AI capabilities to identify and mitigate risks more effectively, ultimately enhancing the quality of audits and fostering trust within capital markets.
Marc Jeschonneck, EY Global Assurance Digital Leader, emphasized that this ambitious investment positions AI at the heart of auditing, enabling EY professionals to leverage advanced technology to shape the future with confidence. This sentiment mirrors EY's mission to create new value for clients, team members, and society at large, relying extensively on data and advanced technology.
Introducing EYQ Assurance Knowledge
Among the suite of new functionalities introduced in this investment is EYQ Assurance Knowledge, a groundbreaking generation AI tool designed to assist auditors in searching and summarizing accounting standards and auditing methodologies. By incorporating this tool into the EY assurance technology platform's workflow, EY's 140,000 assurance professionals will harness the power of AI to generate tailored responses based on the specific profiles and circumstances of the companies they audit, factoring in geography, industry, and complexity.
This implementation reflects EY's commitment to the principles of