KPMG Clara

2020: Using AI to conduct an audit

In early 2020, KPMG International revealed details of how the company uses artificial intelligence to conduct an audit. KPMG Clara technology platform is responsible for this.

It is an automated, flexible, intelligent and scalable solution that KPMG claims is ushering in a new era of auditing. The company is implementing KPMG Clara on a global scale, giving customers the ability to communicate with the audit team and access in real time to information obtained during the audit process.

KPMG reveals details of how the company uses artificial intelligence to conduct an audit

KPMG Clara integrates with the Microsoft Teams corporate messenger, which allows auditors to work together on a project, centrally manage and securely share audit documents, track all audit activities, and communicate with each other using chat, audio and video calls. This greatly simplifies document flow, allowing you to constantly synchronize throughout the audit process and ensuring continuous communication with the client, the audit company says.

Technology is fundamentally changing the work of companies around the world, says Bill Thomas, president of KPMG International. - Now more than ever, customers are striving to digitally transform their companies and are looking to us for help with the implementation, management and optimization of these processes.

In 2019, KPMG analysts surveyed about 1,300 CEOs of companies, 65% of whom believe artificial intelligence will actually create more jobs than it abolishes.

The survey also found that 50% of CEOs hope to get a return on their investment in AI within 3 to 5 years, and 100% of respondents have launched a pilot or already implemented AI to automate their workflows.

According to the company representative, as a result of the technical expansion, KPMG provides its customers with the opportunity of "a single level of service on a global scale, increased deployment speed and the most advanced data security standards in the industry."

At the same time, KPMG specialists gain access to a huge arsenal of tools in the cloud to build business solutions and external control services that will have built-in AI and machine learning capabilities.

KPMG is implementing KPMG Clara on a global scale, giving customers the ability to communicate with the audit team and have real-time access to information from the audit process

With the introduction of robotic process automation (RPA), they will be able to use software with AI included in it, which will reduce the time to perform voluminous, routine and repetitive tasks that previously ate up many hours from the working week of employees.

Big data technologies and business models are dramatically changing the entire business landscape, says Bill Thomas. - Our many years of investment in digital leadership help us not only to remain at the forefront of these changes, but to further strengthen our position as a partner in digital transformation.

As a "big four" company, KPMG offers services and solutions for all sectors of the economy, from government and banking to healthcare. This reach means that KPMG offers an effective application of the potential of Microsoft technologies to develop and strengthen the business of customers from all industries, said Microsoft President Satya Nadella.

KPMG's deep industry understanding and process expertise combined with our trusted cloud, including Azure, Dynamics 365 and Microsoft 365, will give customers better solutions and enable them to become more dynamic in the ever-increasing complexity of the business environment, he said.[1]

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