Ernst & Young is harnessing artificial intelligence to elevate its audit performance and maintain quality gains. New AI-backed tools enable auditors to analyse complex financial reporting systems, assess risk, and process vast data sets, with autonomous agents set to handle routine tasks next year.

The technology forms part of a broader investment strategy: EY has pledged $1.4 billion globally on AI, alongside a $1 billion US commitment to both emerging tech and higher compensation for young recruits. These moves aim to secure talent and enhance audit outcomes across regions.

EY anticipates its pending 2025 Public Company Accounting Oversight Board inspection report will reflect its best results since 2009, with expected deficiencies falling below 10%, down from 28% in the previous cycle. The improvement follows a multi-year effort to standardise audit practices, focus on complex accounting areas such as impairments and business combinations, and perform much of the work before clients’ fiscal year-end.

The firm’s AI tools also streamline fundamental tasks, including financial statement tie-outs and guidance retrieval, freeing auditors to concentrate on judgment-intensive work. EY’s competitors—including PwC, KPMG, and Deloitte—have similarly integrated AI agents to automate routine processes and enhance efficiency.

Richard Jackson, EY Americas CTO, describes the AI integration as “turbocharging” audits, reinforcing the firm’s ability to sustain quality improvements and maintain robust oversight across multinational clients, including Apple and Alphabet.

Discover how EY’s AI strategy is reshaping audit quality and operational efficiency for the largest global companies.

Explore more details about EY’s AI adoption and audit transformation in the full article.