EY has initiated the next phase of its $1bn technology investment by integrating AI capabilities into its global assurance platform.  

This development is part of the organisation’s aim to transform audit services and improve the audit experience for its clients worldwide. 

The new AI-powered features are designed to elevate audit quality and instil confidence in the capital markets, the company said in its press statement.   

EY Global Assurance Digital leader Marc Jeschonneck said: “Through its $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.” 

Among the capabilities is EYQ Assurance Knowledge, which employs generative AI to assist in the detailed search and summarisation of accounting and auditing content. 

By incorporating EYQ Assurance Knowledge directly into the workflow, EY’s 140,000 assurance professionals can use GenAI tailored to the specifics of their audit engagements.  

This includes consideration of the company’s location, industry, and complexity.  

The deployment of this capability aligns with the firm’s nine principles of Responsible AI and the EY AI assurance framework to ensure transparency and access to credible sources. 

Additional enhancements include a new version of EY intelligent checklists with AI, which suggests responses to disclosure checklist queries, aiding professionals with accounting standards and legal requirements.  

Moreover, EY Financial Statement Tie Out has been improved to facilitate accuracy checks and manage changes in financial statement iterations. 

EY Global Assurance Innovation & Emerging Technology leader Paul Goodhew said: “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.” 

The integration of AI into EY assurance is part of a broader initiative that includes more than 30 new and enhanced features set to release in 2025.  

These updates aim to improve the audit experience for both clients and professionals within the firm.  

This progress marks the culmination of the third year of a four-year technology investment programme announced in 2022, which has introduced more than 100 capabilities or enhancements to support business and market confidence. 

This follows EY’s announcement of a global restructuring aimed at streamlining its regional divisions. However, EY Oceania’s leadership and structure will stay the same. 

The overhaul will see 18 regional units consolidated into ten larger “super regions” and the removal of three overarching geographic groupings.