Deloitte has revealed a range of new AI capabilities within its Omnia platform, which serves as a global cloud-based solution for audit and assurance.

These developments are intended to adapt the audit process to the growing complexities faced by businesses and their external environments, offering integrated and agile solutions, the accounting giant said.

Deloitte Southeast Asia audit & assurance transformation leader Juntira Juntrachaichoat said: “At Deloitte, we are driven by a commitment to quality and excellence across our people, processes and technology.

“Our Omnia platform is part of our continuous efforts to empower our audit talent with solutions that complement their skillset and help them thrive in a dynamic environment.”

The latest enhancements focus on rethinking essential audit processes through the use of Generative AI.

Among these features is the ability for GenAI to conduct preliminary reviews of audit documentation, providing suggestions for improvement in clarity and consistency.

Additionally, auditors will benefit from improved navigation tools that allow them to delve into draft financial statements, facilitating more efficient tie-out procedures through the ability to ask detailed questions about the content.

The data extraction process has also been refined, with GenAI enabling auditors to summarise information across multiple documents, thereby enhancing the efficiency of reaching conclusions.

Furthermore, the platform now includes advanced drafting capabilities, allowing for the generation of initial drafts of audit-related communications and accounting memos.

Deloitte has also enhanced its research capabilities within the audit and accounting domain, equipping auditors with tools that deliver timely answers to complex research inquiries and assist in synthesising intricate accounting topics.

In terms of risk management, the firm is developing technology aimed at identifying potential audit risks by evaluating external information sources for relevant risk events.

As part of its ongoing evolution, Deloitte is incorporating intelligent agent functionalities into the Omnia ecosystem.

These digital agents are designed to perform specific tasks, retain pertinent information, and collaborate with one another as part of a cohesive system.

All these AI advancements have been developed in accordance with Deloitte’s Trustworthy AI framework, which ensures that governance, controls, and compliance are integral to the AI lifecycle, thereby enhancing quality and fostering user trust.

Deloitte Southeast Asia audit & assurance regional managing partner Lee Boon Teck said: “Through our ongoing investment in advanced, adaptive technologies, we enable our people to expand the depth and breadth of their capabilities to navigate evolving demands efficiently, while upholding the core principles of quality and trust.”