乐鱼（Leyu）体育官网 Collaborates with Databricks to Drive Responsible AI and Revolutionize the Audit Experience
New York- June 12, 2024 鈥撀犂钟悖↙eyu）体育官网 LLP鈥檚 Audit practice is embedding the Databricks Data Intelligence Platform within 乐鱼（Leyu）体育官网 Clara, its global smart audit platform that brings together data and analytics, artificial intelligence and automation, collaboration capabilities and audit workflow, to deliver a better audit experience.
By leveraging Databricks technology, 乐鱼（Leyu）体育官网 auditors can analyze billions of financial transactions across thousands of audits, driving enhanced audit quality and deeper insights into audit-related risks in order to maintain public trust in the capital markets.
The firm鈥檚 ongoing alliance with Databricks will further accelerate the adoption of artificial intelligence within 乐鱼（Leyu）体育官网鈥檚 audits. AI is revolutionizing business models across industries. Its integration into organizations enhances productivity, scales work processes and accelerates value delivery to clients. Despite the potential benefits of AI, there are still concerns regarding transparency and data privacy. Responsible AI is only as good as the data it relies on.
鈥淲e are harnessing the transformative power of AI to deliver a timely, risk-based audit that analyzes more data to uncover unique audit insights that can help audit committees and management teams better understand risks within their financial reporting processes,鈥� said Tim Walsh, 乐鱼（Leyu）体育官网 U.S. National Managing Partner 鈥� Audit Operations. 鈥�The Databricks Data Intelligence Platform provides a robust backbone for trusted, reliable data and AI solutions that support high-quality audit delivery.鈥�
"We are excited to collaborate with 乐鱼（Leyu）体育官网 on 乐鱼（Leyu）体育官网 Clara to provide institutions with enhanced audit quality and insights centered on data, analytics and AI,鈥� said Michael Hartman, Senior Vice President and General Manager of Regulated Industries at Databricks. "Harnessing the Databricks Data Intelligence Platform, 乐鱼（Leyu）体育官网 Clara utilizes an open, unified foundation for all data and governance to help institutions unlock the full potential of their data and deliver an unparalleled audit experience."
A recent 乐鱼（Leyu）体育官网 AI survey found that financial reporting functions are accelerating the adoption of AI and generative AI, with 100% of U.S. financial reporting leaders reporting that in the next three years they will be either piloting or using AI in financial reporting, up from 71% today. As for generative AI, 97% will be either piloting or using the technology in financial reporting in three years, up from 46% today. In fact, GenAI is the most prioritized technology among U.S. financial reporting leaders in the coming year.
The top five benefits anticipated from AI adoption include real-time insights into risks, fraud and control weaknesses (70%); lower costs (58%), ability to predict trends and impacts (57%), increased data accuracy and reliability (57%) and better data-enabled decisions (53%).
乐鱼（Leyu）体育官网 Clara brings everything together for a seamless, integrated audit experience with on-demand learning that helps auditors make and document decisions that are all aligned to the latest accounting standards. It delivers a data-driven audit, extracting and analyzing transaction-level data to fine-tune risk assessments and glean new audit insights to show outliers and more.
乐鱼（Leyu）体育官网 uses Databricks to deliver data, analytics and AI solutions across the firm, from the front-office and how the firm goes to market to back-office operations. As a data-driven organization, 乐鱼（Leyu）体育官网 leverages its data estate to deliver high-quality, timely and relevant Audit insights to clients and stakeholders. The firm has embraced emerging capabilities and is working with Databricks to leverage its Data Intelligence Platform. The platform combines data warehouse and data lake capabilities, providing the flexibility to store unstructured data such as photos, presentations and other file formats with the ability to deliver highly structured views based on user requirements.
The collaboration with Databricks allows business organizations to govern and control the data supporting business intelligence and AI, offering tremendous promise for transforming the way that organizations realize the benefits of data and AI.
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About 乐鱼（Leyu）体育官网 LLP
乐鱼（Leyu）体育官网 LLP is the U.S. firm of the 乐鱼（Leyu）体育官网 global organization of independent professional services firms providing audit, tax and advisory services. The 乐鱼（Leyu）体育官网 global organization operates in 143 countries and territories and has more than 273,000 people working in member firms around the world. Each 乐鱼（Leyu）体育官网 firm is a legally distinct and separate entity and describes itself as such.
乐鱼（Leyu）体育官网 is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity and eradicating childhood illiteracy. Learn more at .
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