EY introduces AI Assurance framework to enhance customers’ trust

To help businesses adapt to new challenges, EY has announced new technological capabilities and a global AI Assurance framework for EY professionals.

The release will improve audit quality and provide more assurance insights on the finance, sustainability, and technology risk agendas of businesses. The announcement is part of a program to transform audits using technology. Its goal is to align approximately 9,000 technology risk professionals with the Assurance service line.

The company is launching more than 25 new EY Assurance technology capabilities. This is part of their multi-year, over $1 billion investment into an advanced Assurance technology platform. The organization is investing in a program that combines technology, advanced analytics, and artificial intelligence. This program aims to improve user experience and access to data, driving transformation over several years.

New technology releases make it easier to provide additional assurance services, such as financial accounting advisory services, climate change and sustainability services, forensic and integrity services, and technology risk services, along with EY Audit.

The company has provided an AI Assurance framework to all EY assurance experts, considering the impact of AI on businesses globally. This explains how AI is used in financial reporting and the risk management frameworks and controls that businesses use. Over 130,000 EY Assurance professionals have been trained in the framework.

Businesses will gain confidence in using new technologies through this initiative.