EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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Audit innovation
Innovation is the driving force behind our audits, and helps us work better, smarter and faster. We embed innovation into everything we do.
What EY can do for you
Innovation drives both EY clients’ and our own services. At EY, we monitor emerging technologies to embrace their benefits, understand the new risks they bring, and better anticipate and respond to the evolving needs of business, regulators and investors.
We innovate and invest in innovation because we are committed to building a better working world and providing the capital markets with greater confidence, better business perspective and enhanced transparency.
Some of the areas we’re focusing on include:
Artificial intelligence (AI)
The exponential increase in the quantity and quality of available data has opened new possibilities for how data can be used by our audit teams.
Artificial intelligence (AI) techniques — most prominently machine learning — allow us to look at data using advanced pattern recognition and harness this functionality to digitally assist our auditors by:
- Analysing and extracting data from unstructured data, such as contracts, invoices, and images, to gain further audit evidence
- Analysing large sets of data to help identify, assess and respond to the risks of material misstatement due to fraud
For EY clients, this means:
- Greater confidence and trust: By working with AI tools, the chances of human error are reduced. AI tools provide consistent reasoning with high precision, objectivity and accuracy.
- Increased quality: Quality is increased by assisting the analysis of larger samples.
- Increased value: AI allows us to shape our approach, optimise our time and provide better service to our clients.
We are embedding emerging technologies such as Artificial Intelligence technology across our end-to-end audit process. This includes the application of AI to the area of business document reading and interpretation. This will allow us to expand the scope of the number of documents we analyse, and increases speed and accuracy.
Blockchain
Listed as one of the technologies set to revolutionise how business is carried out across a range of industries, blockchain has the potential to impact significantly the finance and accounting world.
At EY, we are investing in pilot projects to meet and anticipate new market demands in light of the increasing adoption of blockchain. One example includes developing a proprietary EY Blockchain Analyser to support our audit approach and provide clients with increased transparency on their blockchain transactions.
Through these projects, we are preparing to address new demands and client needs linked to the adoption of blockchain.
Automation
Enhanced automation has been a key component in the development of EY Canvas and EY Helix, and now allows us to improve audit efficiency.
Drone technology
Drones are unmanned aerial vehicles that are piloted remotely. Our developments include:
- Assessing the use of drones to assist with inventory observations
- Assessing the integration of inventory observations with drones and our mobile applications
Our latest thinking
The way businesses interact with their customers is undergoing a seismic shift. Richard Hepworth, a partner at EY, explains why front-office transformation is now a matter of survival and gives practical advice on how companies can embrace the change.
28 Mar 2025
Richard Hepworth
Agility in action: CEOs innovating and adapting for tomorrow's challenges
Discover how CEOs are driving agility and innovation in uncertain times. Learn about talent retention and ethical AI strategies. Read more!
20 Mar 2025
Helena O’Dwyer
How EY is transforming its AI experience into insightful strategy
EY has embraced self-disruption, driving ambitions for responsible AI advancement. Find out how.
10 Mar 2025
John Ward
How CFOs in Ireland are charting a course for growth and expansion
High levels of optimism among CFOs sees a shift in emphasis from cost cutting initiatives to a new focus on realising growth opportunities. Find out how.
06 Mar 2025
Vickie Wall
Why Hospitals Who Wait to Adopt AI May Never Catch-up
Discover why delaying AI adoption in healthcare can lead to increased costs, inefficiencies, and compromised patient care. Learn how hospitals can leverage AI to improve diagnostics, personalise treatments, and enhance operational efficiency.
24 Jan 2025
Alastair Allen
Claims validation process automation
Deployment of Intelligent Document Processing reduces insurer’s claim validation time. Find out how.
21 Jan 2025
EY Ireland
How GenAI investment is surging on the back of continued innovation
The surge in GenAI investment by VCs witnessed during 2023 has continued in 2024 albeit with a shift in emphasis to more established targets. Find out how.
20 Dec 2024
Grit Young
How talent health and GenAI are reshaping work and the workforce
Organisations can make themselves magnets for an increasingly mobile workforce by improving each element of their talent health score. Find out how.
19 Dec 2024
Laura Flynn
How CISOs can nurture a cyber-informed workforce in the age of AI
CISOs need to strike a balance between achieving optimal security and unlocking the value that AI adoption can bring to the organisation. Find out how.
18 Dec 2024
Puneet Kukreja
Why AI and Energy are the New Power Couple for Green Transition and Transformation
AI and energy, the "new power couple," are transforming the industry with innovative solutions and policies driving sustainable growth.
13 Dec 2024
Sean Casey
How AI is shaping the future of DCC plc’s energy business
In today's rapidly evolving world, artificial intelligence is already reshaping how value can be created for businesses, and at EY, we’re partnering with Irish business leaders to realise the power of AI.
13 Dec 2024
Eoin O'Reilly
From AI to the metaverse, several organisations including ESB, St. James’s Hospital and Kerry Group have worked with EY Ireland and Microsoft to deploy new tech with their staff and learned valuable lessons on what to do (and what not to do).
12 Dec 2024
EY Ireland
How can retailers best serve Irish consumers this festive season
Discover how retailers can effectively serve Irish consumers this festive season by understanding their shopping preferences, from free shipping strategies to sustainability trends.
12 Dec 2024
Colette Devey
How financial controllers can be catalysts for value transformation
Financial controllers have an opportunity to rethink their role and shift from value protectors to innovators and value creators. Find out how.
11 Dec 2024
Vickie Wall
How GenAI is redefining the landscape for financial planning and analysis
The integration of GenAI and digital tools in FP&A is a strategic imperative for businesses aiming to thrive in the modern economy. Find out how.
28 Nov 2024
Katie Burns
Find out how AI models helped enhance B2B sales for a telecom company.
22 Nov 2024
EY Ireland
CEOs in Ireland leveraging disruption for strategic gain
Our report reveals that CEOs in Ireland are particularly optimistic about managing business costs, revenue growth, and profitability.
14 Nov 2024
Helena O’Dwyer
Why the world needs business leaders to drive for net zero
There’s an urgent need for businesses to lead in net zero efforts by integrating sustainability into their core strategies. Find out how.
13 Nov 2024
Derarca Dennis
How we can leverage CSRD to drive sustainability and innovation
As businesses navigate a new landscape, the CSRD challenges them to comply, but also to seize the opportunity for growth through sustainability.
25 Oct 2024
Dave O’Shaughnessy
How finance functions can navigate the future with human-AI collaboration
GenAI is revolutionising finance, shifting roles towards strategy and innovation, with AI-human synergy at the core. Find out how.
25 Oct 2024
Katie Burns