EY Introduces Enterprise-Scale Agentic AI to Transform Auditing in the Age of AI
EY has announced a significant initiative to globally deploy agentic AI within its auditing and assurance sector. This comprehensive strategy represents a fundamental shift towards leveraging AI to transform the auditing experience. Through the reinvigorated audit approach, EY aims to enhance audit quality and workflow efficiency while providing a superior experience for clients and professionals alike. This recent release is part of a broader multi-billion dollar investment in technology and talent designed to support EY's global ‘All in’ strategy.
The newly integrated multi-agent framework, built upon Microsoft Azure, Microsoft Foundry, and Microsoft Fabric, will be directly incorporated into EY Canvas, an assurance technology platform that processes over 14 trillion lines of journal entries annually. This integration will empower a workforce of professionals—over 130,000 engaged in 160,000 audit engagements across more than 150 countries—to manage complex tasks, processes, and technologies more effectively and responsively to risks. Moreover, it will provide real-time access to continuously updated accounting and auditing guidelines, ensuring that teams are equipped to address the dynamic challenges of the auditing landscape.
With the adoption of agentic AI, EY Canvas will now embed AI into every phase of the audit process. Following rigorous testing and pilot evaluations, this initiative aims for the agentic AI system to fully support end-to-end auditing operations by 2028. The technology creates a foundation based on EY's client-focused audit methodologies, aimed at reducing administrative burdens, enhancing risk assessments, and preserving the integral roles of professional skepticism and insights within the auditing practice. This technology-backed approach offers the potential to optimize workflows for each audit engagement, further enhancing quality while rationalizing processes and increasing reliability, thereby improving the experience for both clients and professionals.
Janet Truncale, EY Global Chair and CEO, emphasized, "As we assist transformative changes for leading organizations around the world, we begin by treating ourselves as 'Client Zero,' applying the same standards. The surge in data and the complexities of providing assurance around AI necessitate a faster evolution of talent and technology than ever before. The future of auditing—driven by people and supported by AI—is a prime example of enterprise AI in action; ongoing investments under the 'All in' strategy will deliver greater value, deeper insights, and higher reliability for our clients and stakeholders."
This enhancement comes at a critical juncture as organizations strive to unlock the true potential of AI. Recent surveys from EY indicate that 97% of CEOs report their organizations are either undertaking or planning comprehensive transformations. The refreshed audit methodology and framework developed by EY address the dynamically changing complexities surrounding AI assurance services, thereby elevating the depth, relevance, and trustworthiness of audits.
Furthermore, EY's range of assurance services serves as a foundation for evaluating the governance, risk management, and controls of AI utilization. These services help both audit and non-audit clients assess their readiness for AI adoption, manage related risks, and establish accountability along with measurable outcomes.
Marie-Laure Delarue, EY Global Assurance Vice Chair, stated, "It is precisely because EY is committed to our own transformation that we can support the large-scale adoption of AI by organizations globally. By putting people at the center and leveraging our alliance with Microsoft, EY continues to provide significant value, deeper insights, and higher reliability to clients and stakeholders, re-defining the value of auditing in the age of AI."
The introduction of this technology is supported by EY's strategic alliance, particularly with Microsoft. The collaboration integrates Microsoft's cloud and AI technologies deeply into EY’s platform. The multi-agent framework incorporated into EY Canvas is constructed on Microsoft Foundry, Fabric, and Azure—illustrating EY's commitment to responsible AI usage on an enterprise scale and showcasing advancements that will reshape audit practices.
Judson Althoff, CEO of Microsoft Commercial Business, remarked, "EY's advanced utilization of Microsoft's cloud and AI solutions highlights the potential when cutting-edge technology is deployed at an enterprise scale. As a certified Frontier Firm, EY leads in responsible, scalable AI within the assurance sector, accelerating innovation and aiding organizations in realizing substantial business value."
These new AI features have been developed, validated, and deployed in adherence to EY's nine principles of responsible AI. Additionally, EY is involved with Stanford University's Human-Centered AI research initiative, reinforcing its commitment to advancing responsible AI practices. Alongside significant investments in technology, this year, EY has also established a global training program aimed at enhancing the capabilities of auditing and technology risk professionals worldwide. This program includes in-person learning opportunities that will be periodically updated in line with regulatory, technological, and methodological advancements.
Raj Sharma, EY Global Managing Partner for Growth & Innovation, noted, "This bold step to integrate AI into one of EY's core services—building trust and confidence in capital markets—clearly demonstrates the power, potential, and reliability of AI. This transformation is supported by our longstanding strategic alliance with Microsoft, whose cloud and AI technologies are crucial for responsibly deploying advanced AI across EY's audit and assurance endeavors."
In conclusion, by pioneering enterprise-scale agentic AI in auditing, EY is not only enhancing its service offerings but also setting a new standard that redefines the auditing landscape in the AI era. The ongoing commitment to innovation and responsible technology use positions EY as a leader in the future of auditing, ensuring clients receive the highest quality and most reliable service possible.
The newly integrated multi-agent framework, built upon Microsoft Azure, Microsoft Foundry, and Microsoft Fabric, will be directly incorporated into EY Canvas, an assurance technology platform that processes over 14 trillion lines of journal entries annually. This integration will empower a workforce of professionals—over 130,000 engaged in 160,000 audit engagements across more than 150 countries—to manage complex tasks, processes, and technologies more effectively and responsively to risks. Moreover, it will provide real-time access to continuously updated accounting and auditing guidelines, ensuring that teams are equipped to address the dynamic challenges of the auditing landscape.
With the adoption of agentic AI, EY Canvas will now embed AI into every phase of the audit process. Following rigorous testing and pilot evaluations, this initiative aims for the agentic AI system to fully support end-to-end auditing operations by 2028. The technology creates a foundation based on EY's client-focused audit methodologies, aimed at reducing administrative burdens, enhancing risk assessments, and preserving the integral roles of professional skepticism and insights within the auditing practice. This technology-backed approach offers the potential to optimize workflows for each audit engagement, further enhancing quality while rationalizing processes and increasing reliability, thereby improving the experience for both clients and professionals.
Janet Truncale, EY Global Chair and CEO, emphasized, "As we assist transformative changes for leading organizations around the world, we begin by treating ourselves as 'Client Zero,' applying the same standards. The surge in data and the complexities of providing assurance around AI necessitate a faster evolution of talent and technology than ever before. The future of auditing—driven by people and supported by AI—is a prime example of enterprise AI in action; ongoing investments under the 'All in' strategy will deliver greater value, deeper insights, and higher reliability for our clients and stakeholders."
This enhancement comes at a critical juncture as organizations strive to unlock the true potential of AI. Recent surveys from EY indicate that 97% of CEOs report their organizations are either undertaking or planning comprehensive transformations. The refreshed audit methodology and framework developed by EY address the dynamically changing complexities surrounding AI assurance services, thereby elevating the depth, relevance, and trustworthiness of audits.
Furthermore, EY's range of assurance services serves as a foundation for evaluating the governance, risk management, and controls of AI utilization. These services help both audit and non-audit clients assess their readiness for AI adoption, manage related risks, and establish accountability along with measurable outcomes.
Marie-Laure Delarue, EY Global Assurance Vice Chair, stated, "It is precisely because EY is committed to our own transformation that we can support the large-scale adoption of AI by organizations globally. By putting people at the center and leveraging our alliance with Microsoft, EY continues to provide significant value, deeper insights, and higher reliability to clients and stakeholders, re-defining the value of auditing in the age of AI."
The introduction of this technology is supported by EY's strategic alliance, particularly with Microsoft. The collaboration integrates Microsoft's cloud and AI technologies deeply into EY’s platform. The multi-agent framework incorporated into EY Canvas is constructed on Microsoft Foundry, Fabric, and Azure—illustrating EY's commitment to responsible AI usage on an enterprise scale and showcasing advancements that will reshape audit practices.
Judson Althoff, CEO of Microsoft Commercial Business, remarked, "EY's advanced utilization of Microsoft's cloud and AI solutions highlights the potential when cutting-edge technology is deployed at an enterprise scale. As a certified Frontier Firm, EY leads in responsible, scalable AI within the assurance sector, accelerating innovation and aiding organizations in realizing substantial business value."
These new AI features have been developed, validated, and deployed in adherence to EY's nine principles of responsible AI. Additionally, EY is involved with Stanford University's Human-Centered AI research initiative, reinforcing its commitment to advancing responsible AI practices. Alongside significant investments in technology, this year, EY has also established a global training program aimed at enhancing the capabilities of auditing and technology risk professionals worldwide. This program includes in-person learning opportunities that will be periodically updated in line with regulatory, technological, and methodological advancements.
Raj Sharma, EY Global Managing Partner for Growth & Innovation, noted, "This bold step to integrate AI into one of EY's core services—building trust and confidence in capital markets—clearly demonstrates the power, potential, and reliability of AI. This transformation is supported by our longstanding strategic alliance with Microsoft, whose cloud and AI technologies are crucial for responsibly deploying advanced AI across EY's audit and assurance endeavors."
In conclusion, by pioneering enterprise-scale agentic AI in auditing, EY is not only enhancing its service offerings but also setting a new standard that redefines the auditing landscape in the AI era. The ongoing commitment to innovation and responsible technology use positions EY as a leader in the future of auditing, ensuring clients receive the highest quality and most reliable service possible.
Topics Business Technology）
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