The US audit board heard pleas from its largest advisory group Wednesday for it to issue guidance on how its legacy standards interact with rapidly evolving artificial intelligence tools.
AI technologies are transforming how auditors scrutinize the cash flows and asset values of the world’s largest businesses. The Public Company Accounting Oversight Board must keep up with practical guidance as well as tools to govern responsible use of AI, members of the board’s Standards and Emerging Issues Advisory Group told the regulator.
The board could develop an AI risk model similar to internal controls frameworks to ensure there is a ...
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