A recent survey conducted by CareersinAudit.com has revealed that 69% of audit and governance professionals believe that generative AI (GenAI) tools have enhanced their workplace efficiency.

Among those respondents, 46% reported a significant improvement, while 23% noted a slight improvement.

The survey, which explored the integration of AI in the audit and governance sector, also highlighted that 28% of participants observed no impact from AI on their efficiency. A minority reported a decrease in effectiveness, with 2% citing a slight decline and just 1% noting a significant reduction.

Data Analysis Leads AI Use Cases

Data analysis emerged as the primary use case for GenAI tools within the audit and governance sector, with nearly half (47%) of respondents indicating that their organisations rely on AI for this purpose. Task automation was another prominent application, cited by 40% of participants.

Additionally, reporting and document review were identified as common tasks supported by AI, with 35% and 30% of respondents respectively stating these as key areas of usage.

Simon Wright, Director of CareersinAudit.com, commented on the findings saying, “The audit and governance sector, much like most other sectors, has seen GenAI tools become fully integrated in day-to-day activities over the last few years.

“However, I’m not sure every sector would have the same level of positivity around AI, with our findings showing that audit and governance workers are harnessing its capabilities extremely effectively.

“The industry appears to have adopted the technology well, and that could be down to the fact the tools lend themselves well to audit and governance work, shown by the primary use for AI being ‘data analysis’, a daily task in the sector which virtually all AI tools are adept at.”

Task Automation and Reporting Integration

The survey results underline how GenAI tools are not only improving efficiency but also becoming integral to the workflows of audit and governance professionals. Task automation, identified by 40% of respondents as a key use case, allows organisations to streamline repetitive processes, freeing up time for more strategic work. Meanwhile, the integration of AI in reporting and document review supports professionals in managing large volumes of information, ensuring accuracy and consistency across critical tasks.

In audit and governance, where precision and analysis are paramount, GenAI tools appear to be making a tangible difference. As the sector continues to embrace AI technologies, the findings suggest a trajectory of increased adoption, potentially setting an example for other industries seeking to leverage AI for efficiency and effectiveness.