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-EY launches more than 20 new Assurance technology capabilities backed by alliance with Microsoft in first year of multi-billion dollar investment program

• technology application Guarantee reached the 500,000 user milestone, benefiting from the performance and stability of Microsoft Azure.
• The latest release includes embedded and customized analytics using Microsoft Azure and Microsoft Power BI
• Integration of Microsoft Artificial Intelligence capabilities in EY’s next generation Assurance technology platform supported by the launch of Microsoft Azure OpenAI services

LONDON, August 31, 2023 /PRNewswire/ — The EY organization today announced the expansion of its collaboration with Microsoft, as the EY organization completes the first 12 months of a four-year, more than $1 billion investment to deliver the next generation of Assurance technology platforms. EY’s organizational investment is part of an ongoing focus on maintaining the highest levels of audit quality, increasing trust in business and capital markets, and providing measurable and right-sized audits that align with businesses’ business transformation agendas.

The expansion of EY’s organizational collaboration with Microsoft follows the launch of more than 20 major new technology capabilities from Assurance this year. This is part of EY’s multi-year program to integrate advanced technologies into seamless platforms and drive transformation through next-generation advanced analytics and data access capabilities; Artificial Intelligence (AI); and better user experience. This transformation supports 500,000 EY professionals and external users, powered by Microsoft Azure.

Marie-Laure DelarueEY Global Vice President – ​​Assurance, said:

“The EY organization has achieved the first milestone in a four-year investment program to integrate and transform EY Assurance technology. The EY and Microsoft alliance is critical to this program as the EY organization delivers on its commitment to continuously improve audit quality; -long-term sustainability value; and facilitating greater trust between EY stakeholders and the stakeholders of the companies it serves.”

The first 12 months of the EY organization’s Assurance technology investment includes the launch of next-generation audit data analysis using Microsoft Power BI. The launch of the EY organization leverages the combined power of EY and Microsoft capabilities, providing agile development and delivery in an integrated approach, including Microsoft Fabric. This transforms the user experience and supports full integration of data analysis capabilities directly into EY Assurance technology platform workflows. The EY Assurance team now processes more than 775 billion rows of journal entry data annually, as part of EY’s digitally transformed audit.

This follows the integration of EY Canvas, EY’s organizational audit technology application, with Microsoft Azure, which has delivered strong performance and extensibility to support EY’s delivery of more than 150,000 audits globally. This includes 99.99% availability of EY Canvas powered by Microsoft Azure in the last 12 months, enabling one of the largest business-to-business (B2B) platforms in the profession.

Assurance’s recent launch of new technology capabilities across the EY organization includes AI on a global scale. Leveraging publicly available data generated by EY, this AI-powered capability integrates directly with EY Canvas to assist EY Assurance professionals in risk assessment. The EY organization also introduced new AI-enabled capabilities in predictive analytics; content search and summary; and documentary intelligence, including financial statement linkage procedures. Through this development, the EY team has used Azure Cognitive Services to integrate AI into the audit process.

EY and the Microsoft Alliance also provide the EY Assurance team with early access to new Microsoft technologies and the ability to integrate more Microsoft products into the EY Assurance technology platform. This includes EY’s internal launch of the Azure OpenAI service, which helps EY professionals experience the potential of generative AI capabilities; and take advantage of early access to Microsoft 365 Co-Pilot.

Marc Jeschonneck, Digital Lead at EY Global Assurance, commented:

“EY’s investment facilitates the integration and transformation of data-driven audit and other assurance services, powered by Microsoft Cloud and including the latest Microsoft Power BI capabilities.”

Andreas Toggwyler, CTO at EY Global Assurance, said:

“Utilizing Microsoft Azure enables EY Assurance to further enhance the performance and resiliency of the EY Assurance technology platform.”

goodbye paulinnovation leader at EY Global Assurance, said:

“EY accelerates the delivery of new technologies, including artificial intelligence, from ideation to launch at scale, through the integration of Microsoft technologies with EY platforms.”

Arun Ulagaratchagan, enterprise vice president of Azure Data at Microsoft, commented:

“The EY Assurance technology platform, powered by Microsoft Cloud, enables the transformation of EY audit and assurance services. Our shared goal of advancing innovative new technologies, including data-driven AI, will remain central as we continue to iterate on the next generation of EY and Microsoft technology.”

You can find more information about the EY-Microsoft Alliance Here

About EY

EY exists to build a better working world, help create long-term value for clients, people and society, and build trust in the capital markets.

Powered by data and technology, EY’s diverse teams in more than 150 countries deliver confidence through security and help clients grow, transform and operate.

Working across insurance, consulting, legal, strategy, tax and transactions, EY teams ask better questions to find new answers to the complex problems facing the world today.

EY refers to the global organization, and may refer to one or more 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 an explanation of the rights individuals have under data protection laws is available at ey.com/privacy. EY member firms do not practice law where prohibited by local law. For more information about our organization, visit ey.com.

This press release is issued by EYGM Limited, a member of the global EY organization which also does not provide any services to clients.

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