Deloitte launched a series of new artificial intelligence capabilities under its global cloud-based Audit & Assurance platform, Omnia.
Among the advanced key audit processes with Omnia are:
- Enhanced documentation review: GenAI capabilities can perform initial reviews of audit documentation and suggest enhancements for clarity and consistency.
- Improved navigation of financial statements: Auditors can explore relevant information in uploaded draft financial statements and ask nuanced questions about statement content, streamlining tie-out procedures.
- Streamlined data extraction processes: GenAI’s ability to summarise information across documents enables auditors to unlock richer insights and reach conclusions more efficiently.
- Advanced drafting capabilities: A GenAI-powered workflow can create first drafts of audit-related communications and accounting memos.
- Improved research capabilities: New capabilities within Deloitte’s audit and accounting research platform help deliver timely responses to auditor research questions and synthesize challenging accounting topics, helping them uncover new insights.
- Proactive risk management: Deloitte is developing risk identification technology designed to evaluate external information sources for risk events and identify potential audit risk factors.
Deloitte says they are integrating intelligent agent capabilities into the Omnia ecosystem, as AI agents function as digital specialists capable of performing specific tasks, remembering relevant information, and coordinating with other agents as an interconnected system.
