Artificial intelligence (AI) is no longer a technology of the future in auditing. It has become an everyday tool. AI already helps auditors process data faster, analyse large volumes of documents and identify potential discrepancies. For clients, however, it is just as important to understand how AI is used and how their data is protected.
Grant Thornton Baltic's auditors use AI in their daily work, but responsibility and final decisions always remain with people.
When working with client data, Grant Thornton Baltic's auditors use the firm's secure AI solution rather than free, publicly available tools. They also understand which information can be processed using AI and which must not be shared with it.
One rule always applies: AI-generated answers are never taken at face value. Auditors verify the results and remain personally responsible for their professional judgements and final decisions.
One of the clearest benefits of AI is the time it saves. Time-consuming and routine tasks can be completed faster, leaving auditors more time for meaningful analysis.
For example, AI can help find answers to questions about accounting standards, analyse documents and review annual reports. It can also identify differences and discrepancies in documents that might be overlooked during manual reviews.
AI is also valuable when reviewing lengthy documents, such as loan agreements. Auditors can extract relevant information from large volumes of material more quickly and focus on areas where their experience and professional judgement add the greatest value. This means less time spent searching for information and more time dedicated to in-depth analysis and client communication.
No matter how convincing an AI-generated answer may seem, an auditor always evaluates the result. Professional judgement, experience and critical thinking are never delegated to a tool.
At Grant Thornton Baltic, an internal AI working group also helps maintain the balance between technology and human responsibility. Its aim is to explore ways to make audit work faster and more efficient through AI while ensuring data security and maintaining human accountability.
AI is changing the tools auditors use and the way they work, but people remain at the heart of a trustworthy audit.
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