Valentin Neumann, CEO and cofounder of Cortea, discusses the pressures facing the auditing industry. According to the Institute of Chartered Accountants in England and Wales, the number of practicing auditors in Europe is dropping, with over a third considering leaving the profession. Neumman explains that Cortea was built to solve this by developing AI that works alongside auditors rather than replacing them.

The company focuses on maintaining quality and service as the primary goal for AI in finance. Cortea designs its platform to integrate with existing auditor workflows, reflecting legacy tools to minimize disruption. The interface presents a fully drafted audit procedure for review and approval, rather than requiring users to abandon familiar processes.

Cortea serves two distinct customer groups: advanced auditors using AI platforms like Claude and conservative firms with established methods. The challenge lies in creating a simple interface that bridges this gap. Neumann poses the question of how to balance simplicity with the power to 'start the audit' via a chat-based approach.

As foundational models become cheaper, Cortea emphasizes trust and quality management. In a regulated industry where mistakes carry penalties, efficiency cannot compromise accuracy. The platform incorporates a quality management system to ensure reliable outcomes.

Cortea aims to bridge the gap between traditional auditing and advanced AI, preserving the human element while streamlining complex procedures.