AI Case Study

EY develops embedded audit analytics system, Helix, to automate auditing complex transactions

EY Helix is a machine learning powered embedded audit analytics system developed to automate analysis of transactions such as general ledger transactions and trade payables / receivables to detect mismatches and errors.

Industry

Professional Services

Consultancy And Business Services

Project Overview

"EY's Helix contains analytics platform to automate Auditing, Accounting and Finance functions like General Ledger (GL) Analyzer, Purchases & Trade Payables Analyzer, Revenue & Trade Receivables Analyzer, Inventory Analyzer, Mortgage Analyzer. Further Helix also improves audit efficiency through the incorporation of robotics process automation (RPA). Helix has facilitated digitalizing of large volumes of unstructured contract data and incorporating machine learning to assist with revenue and leases contract review".

Reported Results

EY claims that in most circumstances audit time has been reduced to hours from weeks.

Technology

Function

Finance

Accounts Payable And Receivable

Background

Benefits

Data

Transaction data