As AI technologies become integrated into the audit workflow, auditors are developing a level of speed and accuracy that would have been considered superhuman less than a decade ago. This is enabling them to focus more time and energy on higher risk parts of the audit — the ones that expose them to much higher liability risk and take a great deal more time to investigate. As a result, the introduction of AI is reducing time spent on tedious, labor-intensive grunt work and opening up new opportunities for humans to unlock more capacity for the kinds of nuanced, high-value tasks that humans are best at.
Source: CFO.com
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