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Press release
26 Feb 2020
|
Tokyo, JP
EY ShinNihon enhances its professional services with Assurance 4.0
The next-generation digital audit and assurance business model
Effective 1 July 2020, EY ShinNihon LLC (hereinafter, "EY ShinNihon"; head office: Chiyoda-ku, Tokyo; Chairwoman & CEO: Masami Katakura) will establish a new department for Assurance Innovation to be led by our Chairwoman & CEO. Alongside with this, EY ShinNihon will fortify its Centers of Excellence (CoE), which combine the talent and insights found in three areas of expertise: Operations, Analytics, and Automation. At the same time, EY ShinNihon will establish the AI Lab where it will develop technology for real-time risk identification. Through these initiatives, EY ShinNihon plans to expand the members of Assurance Innovation to a total of 800 by the end of June 2023.
The new department, with its emphasis on strategic and flexible intelligence, will realize "Assurance 4.0" - the future of audit and assurance services - backed by advanced technology, including AI-enabled audit tools. It will also continuously contribute to enhancing audit quality and work efficiency by centralizing specialized audit work requiring high-level IT literacy at CoEs.
Through these initiatives, EY ShinNihon expects to free up time for our over 5,000 audit professionals so that they in turn can be utilized to explore client business issues in greater depth, communicate and maintain open dialogue with clients, and engage in analytical work requiring critical judgement. By doing so, we will continue to contribute to enhancing trust in capital markets and developing a sound and healthy digital society.
What is Assurance 4.0?
Assurance 4.0 is a business model for EY ShinNihon's next-generation audit and assurance service offerings that will contribute to enhancing trust in capital markets and developing a sound and healthy digital society. With Assurance 4.0, we will move forward with more proactive use of a wide range of data and cutting-edge technologies to offer more efficient and more thorough audits and better insights. We will also leverage our expertise in accounting audits to provide third-party assurance for both data and technologies, whose importance as social infrastructure is expected to increase in the future.
What we aspire to achieve through Assurance 4.0 (Our ambitions for Assurance 4.0)
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
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. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation is available via ey.com/privacy. For more information about our organization, please visit ey.com.
About EY ShinNihon
Ernst & Young ShinNihon LLC is an EY member firm in Japan. We provide audit and assurance services as well as advisory and other services. For more information, please visit www.shinnihon.or.jp.
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