AI4SMARTAUDIT - Use of artificial intelligence on audit of the EU Funds

ongoing

The multi-country project AI4SMARTAUDIT (DE, CZ, EL) will leverage Artificial Intelligence (AI) to enable smarter auditing of EU funds, directly reducing administrative burdens while upholding high standards. The project will develop predictive analytics and digitalized smart audit, grounded on available data, to reduce audit workloads and costs while enhancing the reliability of conclusions and saving resources. The project will modernize the audit framework, making it more efficient, adaptable, and transparent. The expected results have potential for EU-wide application for future audits. Born out of the need of reducing the workload associated with the audit of European funds, to increase the reliability of conclusions and to contribute to the digitalization of the European Union (EU) processes, it intends to apply state of the art methodologies that harness the power of data science and artificial intelligence into the audit of EU Funds. As a consequence it will contribute to increase the efficiency of the detection of errors, cases of suspicion of fraud and other irregularities. Building on a previous POC using artificial intelligence for the audit of European funds in Portugal, the methodologies applied will be based on advanced analytical methods and will aim at estimating/predicting the likelihood and amount of errors in operational programmes and their impact on European funds in Germany, Greece, and the Czech Republic. The project will also ensure that a set of knowledge transfer actions are carried out, empowering the Audit Authorities of the EU Funds in each of the Member States to make use of the results achieved and recommendations developed throughout the life of the project. Overall, the project will contribute to better management and control systems as well as to the effectiveness and efficiency of the use of public expenditure in Germany, Greece, and the Czech Republic.