Auditing
Trullion Releases AI-Powered Audit Suite Platform
The cloud-based solution is designed for auditors to leverage AI to enhance accuracy and reduce human error in audits.
Sep. 17, 2024
Accounting automation platform Trullion announced its Audit Suite, a cloud-based solution designed for auditors to leverage artificial intelligence to enhance accuracy and reduce human error in audits.
With Audit Suite, Trullion enables audit teams to work within an AI-driven ecosystem that improves collaboration, mitigates errors, and enhances overall audit quality, the company said in a media release on Tuesday.
“At Trullion, we recognize that the new audit ecosystem demands more than just basic tools—it requires intelligent tools that can adapt to the ever-changing landscape of financial reporting,” CEO Isaac Heller said in a statement. “Our Audit Suite is designed to meet these demands and put audit teams in the driver’s seat so they can see results fast.”
Audit Suite allows auditors to centralize and streamline their process. By leveraging AI, the solution reduces the time spent on manual data entry and document review, allowing them to focus on higher-value tasks, such as strategic analysis and decision-making. In addition to more efficiency, auditors and practitioners can simplify collaboration across engagements by sharing and saving templates, creating user groups with customized access to client data, and tagging colleagues in real-time for seamless teamwork, according to Trullion.
Key modules of the suite include:
- Data match: AI-driven matching procedures automate vouching and tracing efforts, streamlining the test of details process among other use cases, such as transaction vouching, accounts payable matching, inventory reconciliation, and internal audits.
- Financial statement validation: Automated review processes ensure accuracy and consistency across financial documents and against prior-year reports.
- Data extract: Effortlessly extracts and converts data from various formats into Excel-ready files, instantly. Apart from text and tables, auditors can build templates to extract custom fields from multiple heterogeneous documents in seconds. Large language models and custom prompting can be used to improve upon the accuracy of results.
- Trulli, a generative AI-powered chatbot: Users engage in targeted Q&A or dialogue with Trulli to obtain precise insights and conduct research, powered by AI.
More information on Trullion Audit Suite can be found here.