The U.K.’s audit regulator has issued what it says is the world’s first guidance on the use of generative AI and agentic AI in auditing. This sets out where AI should and shouldn’t be used in auditing, and why audit firms will not be able to blame the tech if it goes wrong.
The Financial Reporting Council (FRC) said its Generative and Agentic AI Guidance is published in response to engagement with the market, and “to support firms as they continue to adopt generative and agentic AI at pace.” It said this is the first such guidance from any audit regulator globally – it is the second document the FRC has issued on the use of AI in audit.
