Important presence of ELTE in the Annual Global Conference of Kudos International at Caravel
Important messages on the future of the audit profession, the expansion of artificial intelligence and the new era of investment in audit firms were presented at the 10th Global Conference of Kudos International in Athens, which took place today, May 12, 2026, at the Caravel Hotel in Athens under the auspices of CPA Kudos Greece.
During the conference, the presentation of ELTE (Committee for Accounting Standardization and Audits) was of particular interest, with key speakers being the President of ELTE Panagiotis Giannopoulos and Special Inspector Nikolaos Papademos, while interventions were also made by Aluan Morgan.
The presentations focused on the major changes that are affecting global audit firms, new AI technologies, and the increasing involvement of private equity in the audit industry.
CPA Kudos Greece was represented at the conference by Dimitris Dimitriou, Founder & CEO, George Josephakis, Chairman of the Board of Directors, Irini Tsesmelis, Tax Partner, and Charalambos Billinis, Partner. The presence of the company’s management at the international conference confirms CPA Kudos Greece’s strategic commitment to international networking, monitoring global developments in the audit and advisory industry, as well as investing in knowledge, innovation and digital transformation of its services.
Artificial intelligence is transforming control
Particular reference was made to the rapid development of artificial intelligence in audit firms. According to the data presented, the use of AI tools increased by about 30% in one year, while Audit Technology Tools (ATTs) continue to be deployed in:
- journal entry testing,
- risk assessment,
- substantive audit procedures,
- sustainability reporting,
- and risk analysis.
At the same time, the transition from standalone tools to integrated audit platforms that integrate multiple functions within a single audit system was presented.
The speakers focused in particular on the development of so-called “agentic AI Systems”, i.e. artificial intelligence systems that do not perform only one task but can organize and coordinate multiple control processes simultaneously.The main conclusion was that artificial intelligence is no longer a future tool but an immediate operational reality.
The “invasion” of private equity funds in audit firms
One of the most important topics of the conference was the increasing participation of private equity funds in audit firms worldwide.
According to the data presented:
- in Belgium and the Netherlands, around €1.3 billion was invested in 31 audit firms,
- by the end of 2025 more than half of the UK’s 30 largest accountancy firms are expected to have secured private equity investment,
- while in the US, investments have already been made in 5 of the 26 largest audit firms.
That is, international agreements and investment moves involving acquisitions and mergers of smaller audit and accounting firms.
ELTE highlighted both the positive and negative aspects of the new reality.
The main risks
- Focus on profitability and growth at the expense of quality of control.
- Pressure for short-term returns.
- Complexity in identifying threats to independence and conflicts of interest.
- Implications for professional culture and professional skepticism.
- Constant changes in management and decision-making processes.
The important opportunities
- Inflow of new funds.
- Investing in innovation.
- Development of automation technologies.
- Integration of advanced AI applications into the audit processes.
The future of the profession
Concluding the presentations, the representatives of ELTE stressed that independence and quality of audit must remain at the heart of the profession in order to safeguard the public interest and market confidence.
At the same time, the need to maintain a strong ethical culture in audit firms, to protect the reputation of the profession, and the need for a continuous dialogue between audit firms, supervisors, investors, IAASB and European institutions was emphasized.
Kudos International’s Annual Global Conference clearly highlighted that the global map of audit firms is changing rapidly and that the next decade will be defined by artificial intelligence, private equity investments and the transition to a fully digital audit environment.
