US Audit Board Urged to Dive Into AI, Talent Shortage Debates

A key group of stakeholders urged the US audit board to jump into hot-button discussions on the CPA shortage and artificial intelligence and not sit on the sidelines of two emerging issues that could transform the profession.

“This is an AI arms race,” said Dane Mott, an accounting analyst with the Capital Group, during a meeting of the Public Company Accounting Oversight Board’s largest advisory group in Washington Thursday. “Everyone is going to have to invest in it.”

That includes the PCAOB and will require resources and people to experiment with and eventually adopt such new tools, Mott said.

The ...