Genial Technology, the developer of the Excel add-in vouching system “Genial AI,” has reached a basic agreement with Crowe Toyo & Co. regarding a proof of concept.
Accelerating Product Improvement for Crowe Toyo & Co. by Receiving Feedback
Genial Technology(https://corp.genialtech.io/en/) and Crowe Toyo & Co. have signed a Memorandum of Understanding (MoU) regarding a proof of concept of audit software. With this MoU, the two companies have agreed on a framework for the proof of concept and information exchange regarding “Genial AI”.
Background
Crowe Toyo & Co. has been investing in various IT technologies to improve audit quality, efficiency, and automation of audit work by incorporating technology into the audit, so that the firm can continue its work efficiently and stress-free even in remote environments. In order to perform a vast amount of audit work in a limited period of time, they are also working to improve per capita capacity by streamlining and automating work from a labor perspective.
Genial Technology was established to develop software that automates audit procedures using various technologies, and has already developed and provided “Genial AI”, a software that streamlines vouching procedures. The company aims to further reduce the time required for vouching and audit workpaper review in line with the needs of auditors.
Outline of Basic Agreement
In response to the needs for improving audit quality and streamlining and automating audit work, Crowe Toyo & Co. and Genial Technology have agreed on a framework to promote the efficiency of audit procedures through technology by sharing feedback through the proof of concept and information exchange, with the aim of applying Genial AI to audit practice.
Features of Genial AI
“Genial AI” is an Excel add-in that improves the efficiency of verification work by associating Excel lines and related documents, and presenting the semantic match between cell data and document data. It recognizes documents, matches them with Excel data, and links the Excel lines to the documents, then presents them to the user.
Excel add-in “Genial AI” product page URL: https://www.genialtech.io/genialai/
Outline of Crowe Toyo & Co.
Crowe Toyo & Co. is one of the second-tier audit firms, with approximately 240 audited companies. It is involved not only in audits of for-profit corporations in various industries such as manufacturers, retailers, wholesalers, and service providers, but also in audits of educational institutions, public interest corporations, and general corporations.
- Name: Crowe Toyo & Co.
- Established: 1971
- Location: Sumitomo Fudosan Kanda Bldg. 6F, 7 Kanda Midori-cho, Chiyoda-ku, Tokyo （Tokyo Office)
- President: Akihisa Asakawa
- URL: https://toyo-audit.jp/
Outline of Genial Technology
Genial Technology develops and offers audit tool “Genial AI” series, with the mission of “AI for the more effective auditing” to reduce the burden on the auditors and allow them to focus on tasks that require human ingenuity and judgement.
- Company name: K.K. Genial Technology
- Established: 2019
- Location: Sunny Plaza Hiratsuka 3F, 8-16 Beniya-cho, Hiratsuka-shi, Kanagawa, Japan
- Representative: Aki Abekawa
- URL: https://corp.genialtech.io/en/
* Genial Technology and GenialAI are registered trademarks of Genial Technology Corporation.
* Excel is a registered trademark of Microsoft Corporation.
