Like most other sectors, auditing is also evolving under the influence of digitalization, the ever-increasing volume of data, and the development of artificial intelligence. However, despite technological advancements, the pivotal role remains with people—their knowledge, experience, and ability to exercise professional judgment.
Today, auditors have access to tools that enable faster and more detailed data analysis than ever before. Instead of limiting their analysis to a specific sample, they can examine a significantly larger volume of data and more easily identify unusual patterns. These tools highlight where discrepancies arise, which transactions require closer scrutiny, and where potential risks may exist.
"Artificial intelligence in modern auditing is not an autopilot, but a co-pilot that enhances auditors’ productivity and accelerates the execution of audit procedures. AI excels at detecting anomalies and suspicious transactions, yet data interpretation and the formulation of final conclusions remain in the hands of experts," says Vedran Miloš, Director and Head of Audit at Grant Thornton Croatia.
At Grant Thornton, the development of AI-based solutions is part of the Group’s broader investment in technology and the future of auditing. In Croatia, we are currently focused on identifying areas for improvement and preparing for the implementation of AI tools, while paying special attention to the security, reliability, and quality of the solutions. Before specific AI solutions are integrated into the daily audit process, they must undergo thorough testing and be adapted to the specific nature of our work, alongside the necessary training of our employees.
The goal is not to implement technology simply because it is available, but to find solutions that provide tangible assistance to auditors in their work while simultaneously meeting high standards of security and quality.
"Auditing will certainly continue to evolve. Repetitive tasks will be performed faster, analyses will become more detailed, and the processing of large volumes of data will become more efficient. Reducing the time spent on tasks that can be automated creates greater scope for a deeper understanding of the business, higher-quality dialogue with clients, and a stronger focus by auditors on areas requiring professional judgment. This is precisely where one of the greatest values of technology lies," adds Miloš.
Although technology will continue to transform the way audit teams work, the fundamental purpose of an audit remains the same: to provide independence, transparency, and confidence in the information upon which business decisions are based. At Grant Thornton, we view the development of new technologies as an opportunity to enhance the audit process while upholding the expertise and professional standards that underpin it.