A staggering 73% of auditors still spend more than half their time in spreadsheets, struggling with reconciliations, data extraction, and outdated workflows, according to new research by Trullion, an AI-powered accounting and audit platform. Despite the abundance of Excel-based, manual workflows, only 33% of auditors say they currently use AI. Alternatively, these findings also show that 76% of finance and accounting leaders are already leveraging AI to drive efficiency and improve insights across at least some of their processes.
These reports highlight a stark contrast in how auditors and accounting teams are addressing inefficiencies.
Auditors' busy season challenges:
- Nearly 50% cite reconciliations as their top challenge, with over 70% dedicating 5–20 hours weekly to this task.
- Manual data extraction from unstructured PDFs consumes more than 5 hours per week for 59% of auditors.
- Bottlenecks persist in audit review processes, with nearly 40% reporting review delays of two weeks or longer.
- While 79% leverage technology to automate at least some part of their audit workflow, only 33% have used AI.
Finance and accounting leaders' priorities:
- 59% of finance executives are exploring AI adoption, with a focus on automating insights for reporting and improving decision-making; an additional 17% have already launched pilot programs or begun scaling AI across their organizations.
- 60% believe AI will reduce manual workload and allow humans to focus on more strategic work.
- 25% plan to hire specialized AI expertise for AI implementation in the next year.
- 21% believe it’s too soon to track metrics around AI’s value, however, 66% are watching productivity, time efficiency, or cost reduction.
“These findings reveal a profession at a crossroads,” said Isaac Heller, Trullion CEO. “Auditors and accounting teams are bogged down by manual tasks that could be eliminated with modern technology, and these leaders are increasingly leveraging AI to drive efficiency and strategy. This isn’t to say that auditors aren’t ready to innovate, it just reveals how both sides are feeling the pain of labor shortages and complicated compliance changes. This is what Trullion has been hearing for years and is trying to bridge this gap.”
AI: A solution for all
While auditors report spending up to 20 hours a week on data reconciliation, Trullion’s research shows that AI-powered solutions can cut these time-intensive tasks by more than half. Meanwhile, finance leaders and controllers see AI as a path to achieving real-time insights, reducing manual errors, and elevating job satisfaction.
What’s next? Organizations need to train
Both reports signal that embracing AI and automation isn’t just a competitive edge—it’s essential. Finance leaders who prioritize digital transformation and upskilling their teams will position themselves to tackle inefficiencies head-on.
To explore the full findings from Trullion’s Forward-Looking Statements for finance and auditing, visit https://trullion.com/forward-looking-statements-2025/.
Methodology
The findings in these reports are based on two distinct surveys conducted by Trullion in 4Q 2024. The State of Audit Efficiency survey, conducted in November, collected responses from 43 U.S.-based auditors representing a diverse range of roles and firm sizes. It focused on key aspects of audit workflows, efficiency, and technology adoption during the busy season.
The Finance and Accounting Forecast survey was conducted in October 2024 among 99 members of the Financial Executives International (FEI) community. Respondents included Controllers, CAOs, CFOs, Managers, and Directors, offering insights into AI adoption trends and the evolving priorities of finance teams.
About Trullion
Trullion is an AI-powered accounting platform that automates financial workflows for finance teams, accountants, and auditors, enhancing efficiency, accuracy and collaboration. Founded in 2019 and headquartered in New York, with offices in Tel Aviv and London, Trullion is backed by Aleph, Third Point Ventures, Greycroft, StepStone Group, and leading global CFOs. Visit www.trullion.com to learn more.
About FEI
Financial Executives International (FEI) is the leading association and advocate for the views of corporate financial management. Its members hold policy-making positions as chief financial officers, chief accounting officers, controllers, treasurers, and tax executives at companies in every major industry. FEI enhances Member professional development through peer networking, career management services, conferences, research, and publications. Members participate in the activities of local Chapters in the U.S. FEI is located in Morristown, NJ. Visit www.financialexecutives.org for more information.
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Contacts
Bethany Hale
Chief Marketing Officer
bethany@trullion.com
