Tellen AI Insights
The latest news, articles, and insights on agentic automation in the audit industry. Stay ahead with cutting-edge AI workforce innovations.
Tellen AI infrastructure Monday I started my journey as Head of Engineering at Tellen, the world’s first Agentic AI platform built specifically for audit. As I think about where this is all headed, ...
AI May Transform Accounting Firms into Service-as-Software Businesses Accounting Technology The accounting profession stands at a pivotal moment in its evolution. For generations, firms have operate...
Tellen, a leading provider of AI infrastructure for accounting firms, today announced that it has successfully completed its SOC 2 Type II audit, receiving an unqualified opinion from its auditors, Advantage Partners. This achievement demonstrates Tellen's commitment to data security, confidentiality, and compliance, providing the highest level of assurance to its clients.
Frank Hauser retired from PricewaterhouseCoopers LLP (PwC) on June 30, 2024, concluding a distinguished 38-year career, 26 of which were as a partner. During that time, Frank held pivotal roles within the Firm’s National Quality Office (NQO) as well as several practice offices.
Faster Footnotes with AI-Powered Decision Trees AI-Powered Decision Trees Financial Technology (FinTech) Regulatory Compliance Digital Transformation At Tellen, our vision is to empower auditors ...
How to Create an AI Agent Using Microsoft Copilot Studio and Share it With Your Team Building AI agents can seem daunting, but with the right tools, it's becoming increasingly accessible. Microsoft C...
The accounting industry is on the brink of a transformative AI revolution. Yet for many firms, the journey to AI adoption is hindered by technical challenges, compliance concerns, and cultural resistance. That’s why Tellen is creating The Ultimate Playbook to AI Adoption for Accounting Firms—a living, evolving resource designed to guide firms of all sizes through their AI journey.
Recently we launched FootNoteDB Private, an AI-powered private internal database that we construct for each of our clients that contains hundreds or thousands of their financial statements, making it easier to search and retrieve valuable information from their proprietary dataset. Our product and engineering team is rapidly iterating on our database infrastructure applying advanced AI techniques to surface high-quality results.
If you’ve ever found yourself digging through old files, asking teammates, or Googling endlessly for just the right example of financial disclosure, you’re not alone. Our research shows that auditors and financial reporting professionals spend way too much time doing exactly that. Trying to track down how they or someone else worded that revenue recognition footnote three engagements ago. It’s frustrating, it’s inefficient, and it’s not the best use of your time. Enter FootNoteDB.
The PCAOB’s Staff Update on 2023 Inspection Activities has reported yet another rise in Part I.A deficiencies, this year rising to an overall rate of 46%, up from 2022’s rate of 40%. The PCAOB has included some explanations firms have offered for these concerning results as well as some disaggregation of the data which provides reason for optimism and some for further concern.
I just created a demo of Claude Computer Use for auditors. I wrote a natural language prompt, and Claude AI took control of my computer to navigate to the PCAOB website, find an inspections report, and download it. It mimicked how I would navigate the website to find the report. Check out the video.Demo: Claude's Computer Use Shows Promise for Auditors
The audit industry is on the cusp of a significant transformation driven by the emergence of artificial intelligence (AI) agents. As robotic process automation (RPA) reaches its limitations, AI agents are poised to revolutionize the way audits are conducted, offering greater efficiency, accuracy, and insights.
Tellen’s mission is to help accounting firms transform themselves through AI, and today, we are excited to share a new, free tool called FootNoteDB, which will help auditors research hundreds of thousands of 10-K footnotes.
In the auditing industry, precision is essential. The generation of false information by Large Language Models (LLMs), often referred to as hallucinations, is simply unacceptable. To mitigate these risks, we have been steadily refining our approach to Retrieval-Augmented Generation (RAG), as detailed in our previous blog post. Our journey began with rudimentary semantic search, followed by the implementation of Precision Chunking and MetaDocumenting to enhance the retrieval and generation process. Today, we are proud to unveil Knowledge-Grounded Generation, a major advancement focused on ensuring precise retrieval through a combination of string similarity (Levenshtein distance) and semantic search (vector embeddings). Knowledge-Grounded Generation is a new RAG methodology that ensures that LLM responses are grounded in pre-existing, verified information.
Today marks a significant milestone in the intersection of AI and auditing. We at Tellen are thrilled to announce our collaboration with Advantage Partners, a leader in SOC 2 attestations, to launch an innovative AI-powered chatbot designed to provide deep insights into the SOC 2 IT audit process.
At Tellen, our top priority is safeguarding clients’ data. How do we achieve this? By keeping things simple: We stay out of our clients’ data entirely. Every bit of information resides within their own cloud environment. And it doesn’t stop there—we embed our entire infrastructure and software right into their environment as well.
Recently, the PCAOB published, "Spotlight: Staff Update on Outreach Activities Related to the Integration of Generative Artificial Intelligence in Audits and Financial Reporting,"acknowledging the ongoing significant shift in the profession. The report is interesting in that the PCAOB chose not only to interview audit firms but also financial statement preparers accumulating insights into the current and potential future applications of GenAI, as well as some current limitations.
Recent rises in the rate of inspection findings by the PCAOB have alarmed the body governing audit firms and raised concerns across the industry about what can be done to reverse the trend. Audit quality, like most topics in the profession, is being considered as a potential use case for AI initiatives. As firms struggle to recruit, train and retain talented auditors, creative solutions are required to maintain audit quality. One such potential for this technology with respect to audit quality is the manner in which AI copilots could be trained with the proper methodology and deployed to assist auditors in real time, offering suggestions to correct common errors.
Tellen builds audit quality solutions for accounting firms, taking advantage of the latest innovations in Large Language Models (LLMs) and Artificial Intelligence (AI). With private endpoints, a secure architecture, and an elegant user interface, Tellen provides a range of applications from chatbots trained on our customers’ own data all the way to those aiding audit compilation.
At Tellen, we’re developing the tools we believe will enable auditors to maximize the potential of AI in their workflows. To accomplish this task, we’ve undertaken numerous product research calls and gathered some surprising (and some expected) findings along the way.
For the past 10+ years, finance-oriented data scientists have been perfecting machine learning using artificial intelligence. Many of these financial data scientists were trained in places like American Express and Capital One, where they used huge datasets of consumer data to determine the creditworthiness of prospective borrowers.
On Thursday, July 18th, Tellen hosted a compelling discussion on 'Transforming Audit with AI,' featuring audit and innovation leaders John Graham of Cohen & Co, Parshant Nisar of Forvis Mazars, and Chandragupta Gudena of PBMares. The session delved into the profound impact of AI on auditing practices and the future of the profession.
In a crowded space like B2B SaaS, it can be hard for differentiated products to stand out. People don't have much time and attention is very limited, so you need to get your message across in a fast and concise way. With this in mind, we set out to create a video that captures the capabilities of our platform in under 2 minutes.
Recent trends in audit deficiency findings by the Public Company Accounting Oversight Board (PCAOB) indicate a rising concern over audit quality. The PCAOB reported an increase in audit deficiencies, with approximately 40% of all audits reviewed in 2022 having one or more significant deficiencies.
Top Accounting Firms' AI Initiatives and Guidance Professional Services Leading U.S. accounting firms are stepping boldly into the future by embracing AI as a cornerstone of their strategic initiati...
Prompt Engineering for Auditors & Accountants Professional Services Prompt engineering is a key consideration for accounting professionals to get the most from their use of AI. Crafting the right pr...
We are excited to launch Tellen's Accounting AI Studio. It’s the first generative AI platform purpose-built for accounting firms to access and develop AI applications. Tellen’s Accounting AI Studio provides secure infrastructure allowing accounting firms to launch their own branded AI platforms for employees and clients. The solution empowers client-facing knowledge workers to access pre-built accounting AI applications from our app store, and build their own custom AI applications using natural language in minutes. Employees can easily use the applications across their portfolio of clients and share applications across their teams. The Studio enables accountants to develop productivity-boosting accounting AI applications as easily as they create Excel spreadsheets today.
Product Update: Seamless analysis and output of Word and Excel files with our custom chatbot
AI’s impact on the workplace and society quickly became one of 2023’s hottest topics and one ripe for speculation. Into the new year, while the advancements of AI’s capabilities in certain fields are already being felt, the story of how this new technology will impact the working lives of auditors and accountants is still one that remains largely yet to be written. As firms position themselves as experts in the field, ready to sell lucrative advisory services to clients, everyday auditors wonder what the future of their profession holds in a landscape of generative AI. AccountingToday asked firm leaders what they anticipated will transpire in 2024 with regard to AI for the industry. Not surprisingly, many responses included, either explicitly or otherwise, mentions of the ability of AI to take on the menial tasks and free accountants to be more productive in other areas or perhaps even achieve greater work-life balance.
We are in a golden age for AI innovation. The convergence of abundant venture capital combined with the surge in groundbreaking entrepreneurial ideas is leading to an unprecedented explosion of innovation. It is against this backdrop that we have launched our business, Tellen AI, which is enterprise AI infrastructure that empowers accounting firms to launch their own generative AI solution.
How Auditors are Helped and Hindered Advancing AI in the Workplace Since OpenAI’s ChatGPT burst onto the scene in late 2022 and picked up unprecedented user growth in early 2023, speculation and hypo...