Tellen Logo
Back to Blog
Header image for Transforming Audit with AI
Educational
2 min read

Transforming Audit with AI

October 21, 2024
Photo of Deepak Lalit
Deepak Lalit

On Thursday, July 18th, Tellen hosted a compelling discussion on 'Transforming Audit with AI,' featuring audit and innovation leaders John Graham of Cohen & Co, Parshant Nisar of Forvis Mazars, and Chandragupta Gudena of PBMares. The session delved into the profound impact of AI on auditing practices and the future of the profession. You can view the recording here.

The Role of AI in Auditing

The webinar began with an exploration of how AI is revolutionizing audit tasks. AI is already being utilized to automate tedious activities such as summarizing meeting minutes, contracts, and financial statements, thereby significantly enhancing audit efficiency. However, the speakers cautioned against over-relying on AI outputs without incorporating professional judgment.

Key takeaway: While AI can handle repetitive tasks efficiently, it’s crucial for auditors to apply their expertise and skepticism to ensure the accuracy and reliability of AI-generated content.

Adoption Across Firms

AI adoption is becoming widespread among audit firms of all sizes, but the Big 4 firms have a head start due to their larger budgets.

Key takeaway: Smaller firms need to be strategic in prioritizing and leveraging AI tools to remain competitive and effective.

Importance of a Secure Digital Core

The importance of having a secure, scalable digital core before deploying generative AI on sensitive client data was a key point of discussion. Proper data classification and vendor risk management are critical to prevent the generation of inaccurate and untruthful AI content, often referred to as "bot shit."

Key takeaway: Ensuring data integrity and security is paramount. Without a solid digital foundation, the risks associated with AI can outweigh the benefits.

The Future of Auditing with AI

The panelists agreed that AI will fundamentally transform the auditing profession by automating routine work and providing real-time insights. However, human expertise and skepticism will remain indispensable, as AI can produce unreliable content if not properly validated.

Key takeaway: AI is a powerful tool that will reshape auditing. Yet, the role of the auditor in applying judgment and ensuring the accuracy of AI outputs is more important than ever.

The webinar highlighted that while AI offers tremendous potential to enhance audit efficiency and insight, the need for professional oversight and secure data management practices is crucial to fully realize its benefits.

FAQ

Frequently Asked Questions

Learn how Tellen’s AI Agent Workforce powers modern accounting firms.

What is Tellen’s AI Agent Workforce?
Tellen’s AI Agent Workforce is a suite of specialized AI-powered agents designed for accounting firms. These agents automate audit workflows, financial statement preparation, and footnote disclosures while ensuring security, compliance, and transparency.
How do Tellen’s AI agents help accounting firms scale?
By automating time-intensive tasks like substantive testing, financial reporting, and consistency checks, Tellen enables firms to handle more engagements without increasing headcount. This drives higher efficiency, capacity, and profitability.
Are Tellen’s AI agents secure?
Yes. Tellen deploys directly into your firm’s cloud environment (Azure, AWS, or GCP), ensuring that sensitive client data never leaves your control. The platform is also SOC 2 Type II certified, providing enterprise-grade security and compliance.
Can Tellen’s AI agents adapt to our firm’s unique workflows?
Absolutely. Tellen’s agents are dynamic learners. They are trained on your firm’s proprietary data, policies, and tech stack, creating a shared knowledge base that evolves with each engagement.
What accounting tasks can Tellen’s agents automate?

Tellen automates tasks across every audit stage, including:

  • Planning: Research and guidance from accounting standards.
  • Fieldwork: Substantive and control testing.
  • Reporting: Drafting financial statements and footnotes.
  • Review: Consistency checks and quality scans.
How does Tellen improve audit quality?
Tellen ensures accuracy and compliance by cross-referencing data, logging every AI decision, and providing 100% traceable outputs backed by verifiable sources—so your audit files are complete, consistent, and trustworthy.
What ROI can accounting firms expect with Tellen?
Firms using Tellen report significant time savings, revenue-per-employee growth, and improved engagement capacity. For example, one firm achieved 332% ROI and saved nearly 300 hours using AI agents.
Does Tellen integrate with our existing software?
Yes. Tellen seamlessly integrates with tools like Microsoft Teams, Slack, SharePoint, OneDrive, Copilot, Caseware, Wolters Kluwer, Thomson Reuters, and Inflo—fitting into your existing audit workflow.
How is Tellen different from generic AI tools?
Unlike generic AI or off-the-shelf automation software, Tellen is purpose-built for accounting. It is secure, compliance-focused, and continuously adapts to your firm’s unique processes, ensuring firm-specific intelligence.
How can we get started with Tellen?
You can schedule a demo or consultation via our Contact page. Our team will guide you through setup, deployment, and training so your firm can start scaling with AI-powered efficiency.