Innovation

Several innovations were invented by EY, most notably the EY Digital Audit. Using artificial intelligence (AI) and data analytics, this cutting-edge service uses EYQ to improve audit quality and provide deeper insights to clients. The need to improve audit effectiveness and efficiency in the face of increasing organisational complexity and regulatory requirements has led to the emergence of EY Digital Audit. EY saw the opportunity to incorporate digital technologies into traditional audit procedures.

The main goal of this innovation was to improve audit quality and build customer confidence by integrating the latest technology tools into audit processes. This program aimed to meet the growing demand for increasingly complex audit processes by providing more accurate and informative reports.

A multidisciplinary team at EY comprising IT experts, data scientists, and experienced auditors developed the EY Digital Audit. This collaborative effort made the seamless integration of technology and inspection capabilities possible. The innovation fits perfectly with EY's goal of creating a better workplace. EY contributes to economic stability and integrity in the business sector by strengthening the quality of its audits, which increases the transparency and reliability of financial reporting.

Businesses and society have benefited dramatically from EY Digital Audit, producing more accurate and comprehensive audit reports that facilitate better decision-making. This development supports the integrity of financial reporting and promotes sustainable economic practices so societies can remain economically stable.

EY Digital Audit involves several vital components. Leveraging AI and advanced data analytics, EY Digital Audit can process vast amounts of financial data quickly and accurately, identifying anomalies and trends that traditional methods might miss. The AI-driven EYQ platform enhances the audit process by providing deeper insights and automating routine tasks, allowing auditors to focus on more complex analysis and judgment areas. The system enables continuous monitoring of financial transactions, ensuring real-time assurance and quicker identification of potential issues. Integrated reporting tools provide clients with interactive and detailed audit reports that are easier to understand and act upon.

By integrating these technologies, EY Digital Audit improves audits' accuracy, efficiency, and transparency, ultimately enhancing client trust and supporting sustainable business practices.

Inspiration

İsmailcan's and other colleagues of the company's commitment to ethical corporate behaviour and their positive impact on society serve as inspiration for applying EY's cutting-edge techniques. One particularly memorable experience was leading a large-scale digital transformation for a global company. Supervising teams from various EY specialities and countries, İsmailcan witnessed firsthand how these efforts significantly increased the client's competitive position and operational effectiveness. This success demonstrated the efficacy of EY's creative methods in creating significant change.

Overall impact

Several UN Sustainable Development Goals (SDGs) are closely aligned with the EY Digital Audit, including Goals 8: Decent Work and Economic Growth, 9: Industry, Innovation, and Infrastructure, and 12: Responsible Consumption and Production. EY fosters ethical business conduct and economic growth by improving audit quality and openness.

The recognition of the necessity for improved audit procedures in the face of growing industry complexity gave rise to innovation. EY must promote economic growth through innovation and provide meaningful employment opportunities to establish a better working world.

EY Digital Audit contributes to these SDGs concretely. For Goal 8, enhanced audit efficiency and transparency attract investment and create tech-focused jobs. For Goal 9, digital auditing technologies represent a significant innovation, improving industry infrastructure. For Goal 12, increased transparency ensures companies adhere to responsible production practices, supporting sustainable consumption and production.

Business benefit

Improving audit quality and client trust is a significant advantage for companies using the EY Digital Audit. EY guarantees a thorough and accurate audit by integrating multidisciplinary teams in the process, which promotes better-informed decision-making. This interaction fosters a more profound comprehension of company operations and values and increases client confidence.

Companies that used the EY Digital Audit report saw gains in productivity and enhanced market positions, demonstrating the real advantages of EY's cutting-edge audit solutions. This aligns with EY's objective of using technology to promote sustainability and business excellence.

Social and environmental benefit

In addition to improving audit quality, EY can pinpoint areas where companies may enhance their social and environmental standards through the EY Digital Audit. EY assists businesses in gaining insights into crucial areas like employee engagement and supply chain sustainability by using sophisticated audit tools.

Going beyond individual companies, EY's initiatives are catalysts for a more significant cultural shift towards increased. Accountability and transparency. By promoting ethical and sustainable practices, EY's innovation for optimistic change benefits businesses, the environment, and society.

Ismailcan's experience at EY highlights the company's commitment to using innovation for good, showing how cutting-edge technologies can improve corporate procedures and lead to a more ethical and sustainable business environment. Using their work, EY continues to inspire and lead in professional services, making a lasting positive impact on the business community and society.

Interview

İsmailcan Korkmaz, Experienced Audit Associate