EY has launched the next phase of its US$1 billion technology investment, introducing AI-powered capabilities to its global Assurance platform. This marks a significant milestone in the firm’s ongoing efforts to transform its audit services and enhance the audit experience across the organisation’s 160,000+ audit engagements worldwide.
The latest upgrades are part of EY’s broader audit transformation programme, aiming to improve audit quality, build trust in capital markets, and provide more data-driven insights.
The new tools integrate artificial intelligence into EY’s next-generation platform, a move that accelerates the firm’s digital evolution in the audit sector.
A key feature of the integration is EYQ Assurance Knowledge, which utilises generative AI (GenAI) to assist professionals in conducting detailed searches and summarising accounting and auditing content.
This capability helps EY’s 140,000 assurance professionals quickly find relevant information, tailored to the specifics of their audit engagements—taking into account factors like geography, industry, and the complexity of the audit.
In a statement, Marc Jeschonneck, EY Global Assurance Digital Leader, commented:
“Through its US$1b 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 new capabilities are developed in alignment with EY’s Responsible AI principles, ensuring transparency and full access to vetted subject-matter sources for users. These principles are designed to support ethical AI usage and ensure that the technology complements EY’s existing expertise and commitment to high-quality audits.
Alongside EYQ Assurance Knowledge, EY is rolling out additional AI-driven features, including EY Intelligent Checklists with AI. This tool uses GenAI to recommend responses to disclosure checklist questions, helping audit professionals meet accounting standards and legal requirements efficiently.
The firm is also enhancing EY Financial Statement Tie Out, which assists auditors in ensuring accuracy and integrity when managing changes in company financial statements.
Paul Goodhew, EY Global Assurance Innovation & Emerging Technology Leader, emphasised the importance of the new AI tools, saying:
“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 organisation’s ambition to become the world’s most trusted AI-powered assurance provider.”
These advancements mark the end of the third year of EY’s four-year, US$1 billion technology investment programme, which began in 2022. With over 100 new features launched so far, EY continues to focus on enhancing the audit experience through the integration of data, guided workflows, and AI technology.
This sets the stage for further developments, as EY plans to capitalise on AI’s rapid growth to refine its services and lead the market in AI-driven audit technology.