{"id":131882,"date":"2024-10-08t11:55:31","date_gmt":"2024-10-08t15:55:31","guid":{"rendered":"\/\/www.g005e.com\/?p=131882"},"modified":"2024-10-27t08:18:20","modified_gmt":"2024-10-27t12:18:20","slug":"thomson-reuters-unveils-al-powered-audit-intelligence-solutions","status":"publish","type":"post","link":"\/\/www.g005e.com\/2024\/10\/08\/thomson-reuters-unveils-al-powered-audit-intelligence-solutions\/","title":{"rendered":"thomson reuters brings al to audit solutions"},"content":{"rendered":"

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\nauditors can experience increased efficiency, enhanced accuracy and improved transparency.<\/strong><\/p>\n

by rick richardson
\ntechnology this week<\/em><\/p>\n

thomson reuters, a global<\/span> content and technology company<\/span> focused on the public accounting profession, launched thomson reuters audit intelligence recently. this suite of ai-powered, data-driven audit solutions is designed to transform audit practices by reducing errors and enhancing confidence while enabling auditors to realize efficiency gains.<\/span><\/p>\n

more:<\/b> technology this week with rick richardson<\/a><\/h4>\n

the first tool in the<\/span> suite, audit intelligence analyze, employs ai and machine learning to enhance audit quality and efficiency simultaneously. the solution focuses on high-risk areas by efficiently segmenting audit testing populations based on risk level and reducing the number of items to be tested. with advanced anomaly detection, analyze integrates directly within existing workflows, identifying unusual items often overlooked by humans and automatically generating all necessary audit documentation.<\/span>
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dave wyle, general manager of audit at thomson reuters, emphasized the importance of using technology to modernize audit practices and stay competitive. “today’s announcement underscores our commitment to investing in and developing products that enable data-driven, al-powered audits. we aim to provide these solutions swiftly to our customers, maximizing the benefits of al in their audits while supporting firms to implement solutions at a pace that works for their businesses,” he said. <\/span>“our new solution, analyze, can cut sample sizes by half, saving valuable time for auditors and their clients. this makes audits more efficient and allows auditors to focus on higher-risk areas, improving overall audit quality.”<\/span><\/p>\n

the audit intelligence suite will integrate cocounsel, a<\/span> thomson reuters professional-grade genal assistant, from next year as part of the company’s broader vision to provide a genal assistant to every professional it serves. <\/span>auditors can leverage cocounsel alongside thomson reuters guided assurance to automate <\/span>the completion of<\/span> audit program steps and checklists.<\/span><\/p>\n

future additions to the suite will include the audit intelligence test, which automates substantive testing and verification by dynamically tracing accounting transactions to banking activity and supporting documentation, and the audit intelligence plan, which merges <\/span>full<\/span> data populations with technology-driven analytics to empower auditors’ planning and risk assessment processes.<\/span><\/p>\n

key benefits of thomson reuters audit intelligence analyze<\/span><\/strong><\/p>\n