Workiva Inc. is integrating established financial reporting safeguards into AI-driven workflows to address gaps in data quality and operational control. According to Steve Soter, vice president at Workiva, many organizations are prioritizing automation before ensuring their underlying data foundations are reliable.
Research from Workiva indicates that 84% of executives are willing to trust AI to generate annual reports without human review. However, Soter warns that speed in reporting becomes a liability if the process lacks documented approvals and clear data lineage, as AI can propagate errors rapidly.
Data quality remains a critical barrier, with only 11% of executives reporting that their current data is sufficient for AI implementation. Soter emphasizes that while AI may assist in cleaning up information, the technology is limited by the quality of its inputs, making human oversight essential for final sign-offs.
The findings were discussed during the Amplify event, where experts highlighted that responsibility for financial statements remains with human executives. Even as AI tools automate material generation, the need for rigorous review processes persists to mitigate risks of control failures.
