Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
KPMG UK has partnered with MindBridge to help bring advanced AI into the firm’s digital audits platform.
The partnership will mean that the firm’s smart audit platform, KPMG Clara, will use MindBridge’s technology to “unleash the power of AI into audits”, further enabling the identification of unexpected or high-risk transactions and helping to provide enhanced audit quality.
The new technology has been piloted with a number of KPMG member firms, including the UK, and is presently being rolled out throughout the global network following the announcement of a global alliance with Mindbridge.
With growing public interest in the use of AI technologies, the alliance aims to act as a “world-leading” example of how to design, build and apply the powerful capability of AI in a safe and responsible manner.
According to both organisations, they come to the table with “a shared goal of reimagining the audit experience”, while KPMG states that it remains committed to “the empowerment of both the current and next generation of auditors” and continues to strategically invest in their talent by working with leading institutions across the globe to upskill professionals in innovation, digital analytics, AI technology and ESG.
Matt Campbell, audit chief technology officer at KPMG UK, said: “Our alliance with MindBridge will bring increased levels of AI into KPMG Clara, focusing on harnessing the power of AI for enhanced risk assessment and improved audit quality.
“By combining KPMG’s in-depth industry experience and MindBridge’s advanced techniques we will digitally transform audits, providing increased quality and value to our audited entities and enhancing public trust.”
Leyton Perris, CEO and president of MindBridge, said: “The alliance with KPMG speaks volumes to the step change we are leading in the modernisation of the audit industry. Our platform, integrated into KPMG Clara, provides a thorough analysis of clients’ financial data, identifying risks at a transactional level across complex businesses, setting the new standard for cohesive data science and AI-led auditing capabilities.”
