2023-12-04 11:37:25.AIbase.3.8k
EY Successfully Uses Artificial Intelligence to Detect Audit Fraud
EY has successfully utilized artificial intelligence to detect audit fraud. The company tested a new AI system on the accounts of its UK audit clients, which identified two suspicious activities among the first ten companies tested. This demonstrates the potential of AI in enhancing audit quality and reducing workload; however, there are differing opinions among auditors on the level of reliance on AI, and regulatory bodies need to provide their views.
