working time, the ability to test large amounts of data, reduce audit risk, and provide more flexible and complete analytical information. With an increase in time, auditors are able to implement additional audit tests, leading to a great improvement in the audit process overall. The use of computer-assisted audit techniques (CAATs) have allowed companies to examine larger samples of data and more thorough reviews of all transactions, allowing the auditor to test and better understand any issues within the data. The use of IT systems in audits has transformed the way auditors accomplish important audit functions such as the management of databases, risk assurance and controls, and even governance and compliance. In addition, IT audit systems improve the operational efficiency and aid in decision making that would otherwise be left to hand-held calculations. IT systems help to eliminate the human error in audits and while it does not fully solve the issue, IT systems have proven to be helpful in audits done by the Big 4 and small firms alike. These systems have greatly reduced the margin of error on audits and provide a better insight into the data being analyzed. As a result of the increased use of IT systems in audits, authoritative bodies such as the American Institute of Certified Public Accountants (AICPA) and the Information Systems Audit Control Association (ISACA) have established guidance on how to properly use IT systems to perform audits. Auditors must now adhere to the established guidelines when utilizing IT systems in audits. Benefits of Utilizing IT systems on Financial Audits The use of IT systems and AI techniques on financial audits is starting to show huge benefits for leading accounting firms. In a study done by one of the Big 4 accounting firms, it is expected that the use of IT Systems and AI techniques will generate an increase of $6.6 trillion dollars in revenue as a result of the increase in productivity. As a result, leading auditing firms are making enormous investments with the goal of increasing productivity and therefore revenue through the development or outsourcing of IT systems and AI techniques to assist in financial audits. PwC, one of the biggest auditing firms in the world, has narrowed down three different types of IT systems and AI techniques that firms can develop and implement to achieve increased revenue and productivity. The first system is by created in a way that