KPMG’s AI and Automation in Financial Reporting guide highlights the growing role of AI in finance, with most companies expected to adopt it within three years. It explores automation vs. AI, common use cases, and associated risks. The guide emphasizes the need for strong governance, internal controls, and board oversight to manage operational and regulatory risks. It outlines entity-level controls, risk assessments, fraud factors, and IT governance practices. As financial processes evolve, audit approaches must adapt accordingly. KPMG urges responsible, ethical AI use to sustain trust and confidence in financial reporting.

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