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The power of modernization

Today's clients demand customized insights, strategic guidance, and robust data analytics to improve their decision-making capabilities. Artificial intelligence ideally positions your firm to fulfill these requirements. However, it is essential to swiftly modernize your auditing practices to maintain a competitive edge and prevent falling behind in the industry. Download our infographic to learn more.

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Today’s clients want personalized insights, proactive guidance, and data-driven analytics that help them make better decisions. Artificial intelligence (AI) empowers firms like yours to meet these needs. However, you must move fast to modernize your audit practices — or risk losing to the competition.
Is your firm lagging behind?

Rapid regulatory change and tight competition for talent are forcing accounting and audit firms to adopt advanced technology like AI to gain a competitive edge.

30% of tax and accounting firms are in the consideration phase of whether to use generative AI tools.

The top five use cases for those firms using or planning to use generative AI are accounting and bookkeeping, tax research, tax return preparation, tax advisory, and document review.

Global accounting firms like EY are embedding AI technology into their audit process to extract and analyze unstructured data — like contracts — and better respond to the risks of material misstatement due to fraud.

The high cost of standing still

As firms struggle to keep up with customer expectations and market realities, the costs of hesitation begin to multiply exponentially.

Clients are demanding AI-driven data analytics coupled with personalized advisory services that incorporate the all-important human connection.

Tax and audit professionals are entering a new generation, demanding better tools and opportunities that help them work smarter and advance their careers.

Or is it leading the pack?

The emergence of AI has revolutionized audit practices with powerful tools to better analyze risk assessments, improve efficiency, and generate meaningful insights.

Leveraging AI for a competitive edge

Propel your firm to the next generation of audits with modern technology that enables:

Auditing in the cloud

Access data, systems, and applications from virtually any location — and collaborate with staff members and clients in real time.

Greater automation

Share data across applications and weed out tedious, manual tasks — like double data entry — to save precious time and streamline workflows.

Assisted decision making

Proactively access anonymized data from the audit community to identify suggested areas of risk that others may have overlooked.

Risk-based assessments

Create customized audit programs based on documented risks and assertions, eliminating over- or under-auditing.

AI-assisted research

Get straightforward tax answers via a conversational interface — just as if you were speaking directly to a trusted subject-matter expert.
Are you ready to level up your audit technology?

Discover how AI-powered accounting and audit software can modernize your audit practice and give your firm a leg up on the competition.
Learn more about assisted decision making with Thomson Reuters Cloud Audit Suite.