Technology
Armanino Integrates Generative AI Updates to Audit Ally
The firm has integrated GenAI into its SOC 2 assessment tool, streamlining client communication and task completion.
Jul. 29, 2024
Top 20 accounting firm Armanino has integrated generative AI capabilities into its SOC 2 assessment tool, Audit Ally, streamlining client communication and task completion.
Audit Ally’s AI enhancements have already reduced evidence submission and approval processes by approximately 50%, saving clients and Armanino professionals significant time, the firm said in a media release.
“At Armanino, we are leading the charge in unlocking the transformative power of AI in the accounting and consulting space,” Matt Armanino, CEO of Armanino, said in a statement. “Audit Ally is just one example of our team’s commitment to deploying AI in smart ways to truly improve how we service our clients while maintaining the highest standards of quality and security. This is just the beginning of how we are reshaping the future of our industry to drive better outcomes for our clients.”
Powered by AWS Bedrock and Anthropic Claude 3, Audit Ally now boasts native generative AI capabilities to summarize highly technical audit notes and translate them into actionable insights for clients, all while keeping the auditor fully in control of the communications. This new feature saves auditors valuable time while informing auditees in plain English about the progression of their assessment, missing information, or improper documentation, creating a self-contained paper trail within the dashboard. Audit Ally puts client privacy and data security at the forefront as well, ensuring compliance with data privacy regulations, Armanino said.
Audit Ally also integrated Intercom’s Fin AI Agent, providing clients with instant responses to questions around their SOC 2 assessment from a trained chatbot. This chatbot can help immediately answer questions around progress, missing items, or alert and connect the client with an Armanino team member for a quick resolution.
“Any auditor can tell you how challenging it is to use compliance-friendly language that clients understand and how much they agonize over time lost trying to translate audit-speak into action items, so that clients and auditors are on the same page,” said AJ Yawn, partner-in-charge of product and innovation for Armanino. “With generative AI in Audit Ally, translating audit-speak into clear guidance speeds up the process significantly, improving clarity.”