Finance Ministry Boosts Audit Capabilities with AI and ML
The Federal Ministry of Finance is bolstering its risk assessment and audit capabilities with a focus on digital inspections using Artificial Intelligence (AI) and Machine Learning (ML). Christian Weinzinger, heading the Predictive Analytics Competence Center (PACC), is spearheading these efforts.
PACC is concentrating on real-time risk assessment, fraud prevention, and digital auditing in tax and customs areas. It aims to harness the power of ML and AI to enhance efficiency and accuracy.
Weinzinger, previously with KPMG in audit, IT consulting, and forensics and data & analytics, brings a wealth of experience to his role. He is driving the tax authority's adoption of new approaches in audit methods and case selection. Despite no immediate plans for AI-based digital tax inspection training, the focus on digital transformation remains steadfast.
The Federal Ministry of Finance is committed to leveraging AI and ML for improved risk assessment and auditing. Under Weinzinger's leadership, PACC is at the forefront of this digital revolution, promising enhanced real-time risk assessment and fraud prevention in tax and customs areas.
