Numerous businesses undergo annual audits, facing a tedious, manual and repetitive process of information exchange with auditors. Despite the predictability of peak seasons and deadlines, auditors and their clients invariably experience stressful workloads and longer hours. Adding fuel to the fire, the CPA industry confronts a talent shortage as fewer students graduate with accounting degrees. With its capability to handle vast amounts of data and automate complex processes, we believe AI could transform and address the problems inherent in the financial audit and review process today.
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