Indias Rapid Adoption of AI is Transforming Audit Services [Video]

As AI sweeps through practically every industry, audit and accounting are getting their due makeovers. However, not all firms are keeping pace with its adoption. 

According to the 2024 Generative AI in Professional Services report from the Thomson Reuters Institute, 30% of tax and accounting firms are still weighing the decision to adopt GenAI tools, while nearly half (49%) aren’t planning to use them anytime soon. 

However, a few big accounting firms have led the way with AI adoption.

Ernst & Young (EY), one of the largest accounting firms globally, has introduced AI into their audit services, deploying a powerful tool that reviews and analyses contracts and documents with a speed and precision that human efforts simply can’t match. 

KPMG has also embraced the AI revolution with its innovative platform, KPMG Ignite. This tech doesn’t just sift through data, it enhances the quality of insights delivered to clients. It also offers predictive insights, spots trends, and provides strategic guidance that pushes the boundaries of traditional …