The U.K.โ€™s audit regulator has issued what it says is the worldโ€™s first guidance on the use of generative AI and agentic AI in auditing. This sets out where AI should and shouldnโ€™t be used in auditing, and why audit firms will not be able to blame the tech if it goes wrong.

Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine...