Case Study

AI-powered Document Intelligence

Leveraging AI for ESG Audit Efficiency in an Audit Company

A leading audit company in the US strengthens its ESG audit services, empowering practitioners with AI-powered document intelligence to improve audit accuracy and turnaround time.
Industry & Region: Audit and Advisory Services, USA
Technology Stack: spaCy, Boolean Query Matrix, Vector Space Model, Word2vec, Python, Databricks, TensorFlow, Scikit-learn, Keras, Azure, Pandas, NumPy, ReactJS Library
Client Overview
Our client is a leading audit firm in the US assisting businesses to accomplish their ESG audit goals through solutions that enable auditors to achieve accuracy and efficiency in audit processes.
Business Challenge
Our client was seeking a solution that would help practitioners focus on providing insightful ESG audit reports and minimize audit turnaround time. A detailed study into their existing processes brought to the forefront a major roadblock in achieving these objectives — the auditors were using time-intensive manual data-gathering and audit mechanisms, particularly for the CSR documentation part. Their existing process was burdened by a lot of gaps such as:
  • Valuable information embedded in charts, tables, images, etc., across these CSR documents was being overlooked.
  • Practitioners were unable to compare multiple documents at a time. They were manually referring to documents and thereby missing vital details.
  • There was no way of using historical ESG data to draw inferences.
The Challenges Resulted in:
  • Longer project delivery times, impacting client experience and their overall scalability
  • Increased scope for human errors and inaccuracies in ESG audits
  • A risk of reputational and financial damage both for the auditing firm as well as the company undergoing the audit.
The audit company wanted to avoid these issues and ensure that the practitioners were well-equipped to deliver accurate ESG audits in the shortest possible timelines.
Solution Offered
Enabling our client to minimize manual dependencies and avoid inconsistencies, we developed a fully customized AI-powered ESG audit solution. The document intelligence capabilities of the new ESG audit platform brought in the much-needed accuracy and efficiency in the ESG compliance scoring processes through the following –
  • The AI solution offered automated information mining and auto-scoping for GRI/SASB ESG Standards, Topics, Disclosures, and Requirements. This improved the audit turnaround time.
  • The framework empowered practitioners with actionable intelligence, presenting top-recommended contextually matching phrases from the CSR documents, and delivering a data-driven ESG confidence score.
  • The interactive Q&A assistance feature of the solution allowed practitioners to ask questions in the free-flow text to find contextually matching answers.
  • Feedback ingestion capabilities of the solution enabled the practitioners to add information from their subject matter expertise to ML suggestions for future ESG audits.
  • Quality XRef data from historic CSR audit docs helped practitioners in future ESG audits.
  • The solution helped our client achieve consistency in ESG audits for companies that fell under a particular industry.
Value Delivered
  • Enabled early identification of ESG risks and gaps in the ESG auditing process
  • Improved ESG performance of the companies that underwent ESG audits and also their credibility among customers and socially responsible investors
  • Empowered the audit firm to deliver accurate ESG compliance scores, strengthening its reputation in the ESG audit space.
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A leading audit company empowers its auditors with AI-powered document intelligence to improve audit accuracy and turnaround time.