AI Transforming Financial Reporting and Auditing in Qatar and beyond
Doha, Qatar – Artificial Intelligence (AI) is rapidly reshaping the landscape of financial reporting and auditing, with 72% of companies globally already piloting or using AI tools — a figure expected to reach 99% in the next three years, according to KPMG's latest report 'AI in Financial Reporting and Audit: Navigating the New Era.'
This global shift mirrors developments in Qatar, where the Qatar Digital Agenda 2030 aims to accelerate digital transformation and drive innovation across all sectors, including financial services. With national investments in AI and advanced technologies, the integration of AI in audit and reporting is poised to enhance transparency, accuracy, and real-time insights.
'The AI age is here — and it's reshaping financial reporting as we know it.' said Gopal Balasubramaniam, Partner and Head of Audit at KPMG in Qatar. 'As auditors, our mission is clear: lead responsibly, innovate boldly, and help our clients unlock the full value of this transformation.'
Companies are increasingly looking to auditors to lead this transformation. Over 80% of global respondents say their auditors are already ahead or on par with them in adopting AI for financial analysis. In Qatar, KPMG is embedding AI into audit methodologies and helping businesses move towards more proactive, predictive, and continuous audits.
Key priorities companies want from their auditors include, Improved audit accuracy and efficiency, Real-time insights and faster reporting, and Predictive analysis and data-driven decision-making
While traditional AI is already delivering productivity gains, Generative AI is emerging as a top priority for financial reporting leaders. Nearly half of the global 'Leader' organizations will prioritize GenAI in the coming year — a trend likely to influence firms across the Middle East.
As adoption accelerates, so do concerns around data security, ethical use, and regulatory compliance. KPMG's Trusted AI Approach ensures AI tools are implemented responsibly, prioritizing transparency, fairness, and accountability — values that resonate strongly in regulated markets like Qatar.
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