Automating Audit Data Preparation
The Challenge
Audits play a crucial role in protecting the integrity of Canada’s financial reporting system, but the rapid growth of financial data has made traditional methods inefficient. Today, auditors spend much of their time manually preparing documents, extracting information, and validating records. This project will introduce an AI-powered solution to automate these steps, making audit preparation faster, more accurate, and more comprehensive. By using machine learning, optical character recognition, and a verifiable “auditor-in-the-loop” process, the system will reduce preparation time, improve data coverage, and strengthen audit quality. The result will be a more efficient and resilient audit process across Canada’s financial sector.
“Enhancing audit quality requires embracing tools that match the scale and complexity of today’s financial data. By integrating AI into our audit preparation workflows, we are giving our teams the ability to work more effectively, focus on higher-value analysis, and deliver greater confidence to clients and stakeholders across the auto dealer and pension trust industries.”
– Brion Hendry, Partner, BDO Canada
Investment
$
0.25
M
Scale AI investment
$
0.5
M
Total investment
Partners
