AI for finance teams: reporting, reconciliation, and analysis

Drafting commentary from real numbers

Supply the variance table and ask for commentary that references each line. The AI writes; the numbers come from your reports.

Using only the table below (actual vs budget by cost centre), draft management commentary. For each variance above 10%, state the amount and possible drivers as questions for the budget owner. Don't state causes as facts.

Reconciliation and anomaly checks

AI can help write matching rules and suggest checks for duplicates, round-number entries, or unusual timing. Treat flagged items as leads for investigation, not conclusions.

Policy and contract questions

Summarise payment terms, penalties, and renewal clauses from contracts, with clause references, using approved tools only.

Controls don't change

Approval workflows, audit trails, and access controls still apply. Document where AI is used in a process so auditors can understand it.

Finance mistakes to avoid with AI

In finance, small errors have large consequences.

1. Copying a number from AI-written commentary instead of from the ledger.
2. Treating flagged anomalies as confirmed fraud or errors.
3. Uploading unreleased financial results to unapproved tools.
4. Using AI in a process without documenting it for auditors.

Worked example: month-end commentary

A finance analyst exports the variance table, removes vendor names, and asks AI to draft commentary as questions for budget owners. The draft highlights four variances above threshold with neutral wording.

The analyst sends questions to the four budget owners, receives explanations, and then asks AI to draft final commentary using only those explanations. Every figure is checked against the report before submission. The result is faster commentary that remains accurate and explainable.