There is a secret that accountants hate to admit: just one-third of year-end auditing takes real skill and knowledge – adjustments aside, the rest comprises repetitive tasks. And where there are repetitive or predictive tasks, there is automation (and where there is automation, there is potential for AI).
A typical year-end compliance job comprises four stages: data extraction, setting up the files, adjustments and exporting. Automation and AI can slash processing times across all of these – though less so in the adjustment stage, where expert human advice adds the most value.
