Press Release
Deloitte has announced the integration of new artificial intelligence (AI) capabilities within its Omnia, Deloitte’s global cloud-based Audit & Assurance platform, aimed at enhancing the audit and assurance experience, advancing Deloitte’s effort to drive innovation with enhanced technology. As the external landscape and client businesses transform, these capabilities represent an evolution of the audit process, addressing increasing complexity with agile, integrated solutions.
As Andreas Andreou, Partner, Audit & Assurance Leader of Deloitte Cyprus mentioned “AI is transforming the audit profession globally, creating unparalleled possibilities for innovation and change. Deloitte continuously invests strategically in pioneering, cutting-edge adaptive technologies that empower our people to meet the increasing demands of our clients and respond to the challenges of our times, without compromising on our quality and trust that characterizes our work. Omnia is equipping our people with the resources they need to thrive in a dynamic environment and such advancements are indeed pivotal to our success and to the success of our clients. However, professional scepticism and ethical values that we rely on as auditors today will continue to be critical to responsible use and evaluation of AI and GenAI.”
These advancements leverage Generative AI (GenAI) to streamline various audit processes. New capabilities include enhanced documentation review, improved financial statement navigation, streamlined data extraction processes, advanced drafting capabilities and improved research capabilities. Additionally, Deloitte is developing risk identification technology designed to proactively manage audit risks.
The introduction of AI agents marks the next frontier in Omnia's evolution. These agents act as digital specialists, performing specific tasks, analysing data, and coordinating with other agents to uncover patterns and anomalies. This integration is grounded in Deloitte's Trustworthy AI™ framework, ensuring governance, controls, and compliance throughout the AI lifecycle.
Since its launch in 2015, Omnia has continuously embraced new technologies to deliver high quality, tailored audit experiences. Deloitte's commitment to AI innovation was recognised with the 'AI Innovation Initiative of the Year' award for Omnia at the 2024 International Accounting Forum and Awards. The firm has deployed large language models and chatbots to support its 85,000 audit and assurance practitioners globally, enhancing their skills and capabilities.
Deloitte also launched the Global Agentic Network, offering ready-to-deploy AI agents to assist clients in large-scale deployments. These advancements reflect Deloitte's dedication to empowering its professionals and transforming the audit profession through technology.
For more information about Omnia, visit https://www.deloitte.com/cy/en/services/audit-assurance/services/audit-innovation.html
