London, August 31, 2023 – The EY organization is pleased to announce the expansion of its collaboration with Microsoft as it enters the second year of its four-year investment program to deliver its next-generation Assurance technology platform. With an investment of over US$1 billion, EY is committed to integrating advanced technologies and transforming its audit processes to enhance audit quality and instill confidence in both businesses and the capital markets.
Over the past year, EY has released more than 20 new major Assurance technology capabilities, bringing the total number of users to an impressive milestone of 500,000. Powered by Microsoft Azure, these advanced technologies include integrated and transformed analytics that leverage the capabilities of Microsoft Azure and Microsoft Power BI.
One of the key developments in the EY Assurance technology platform is the integration of Microsoft’s Artificial Intelligence (AI) capabilities. By incorporating the Microsoft Azure OpenAI Service, EY has enhanced its next-generation Assurance technology platform, empowering EY professionals to leverage AI in assessing risk. This integration also allows for predictive analytics, content search and summarization, and document intelligence.
Furthermore, EY Assurance teams have experienced the benefits of integrating Microsoft Azure into their audit processes through the EY Canvas application. The performance and stability of Microsoft Azure have supported the delivery of more than 150,000 audits globally, making it one of the largest B2B platforms in the profession.
The collaboration between EY and Microsoft extends beyond technology integration. EY Assurance teams have early access to new Microsoft technologies, enabling them to stay at the forefront of innovation. EY professionals can leverage the Azure OpenAI Service to explore the potential of generative AI capabilities and gain early access to Microsoft 365 Co-Pilot.
This continued collaboration between EY and Microsoft reflects their shared commitment to advancing game-changing technologies and transforming the audit and assurance services landscape. By leveraging data-driven AI and the power of the Microsoft Cloud, EY is driving the integration and transformation of its audit and assurance processes, ultimately delivering added value to clients and stakeholders.
- Q: What is the EY organization’s investment focus?
- A: The EY organization is investing over US$1 billion to deliver its next-generation Assurance technology platform.
- Q: How many new Assurance technology capabilities has EY released in the past year?
- A: EY has released more than 20 new major Assurance technology capabilities.
- Q: How many users benefit from EY’s Assurance technology applications?
- A: EY’s Assurance technology applications have reached a milestone of 500,000 users.
- Q: How has Microsoft Azure been integrated into the EY Assurance technology platform?
- A: Microsoft Azure has been integrated into the EY Assurance technology platform, providing performance and stability.
- Q: How is Artificial Intelligence incorporated in the EY Assurance technology platform?
- A: The EY Assurance technology platform utilizes Microsoft’s Artificial Intelligence capabilities to assess risk and enable predictive analytics.