AI is rapidly transforming the landscape of financial reporting and auditing, with 72% of companies already piloting initiatives and a surge to 99% expected within three years. In this episode of Enterprise Explores, we dive into how AI is revolutionising financial reporting and auditing, with insights from Foong Mun Kong, Head of Audit at KPMG Malaysia.

As AI adoption in financial reporting is set to surge, we discuss the benefits, challenges, concerns, and the strategic steps companies need to take to stay ahead.

Key areas covered:

- The current state and future predictions of AI adoption in financial reporting and auditing

- Benefits early adopters are experiencing

- Challenges and concerns, including data privacy and real-time auditing demands

- Strategic steps for businesses to integrate AI into their financial processes

- The evolving role of auditors and the new skill sets required in the AI-driven landscape.

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