Rapid advancements in artificial intelligence (AI) are transforming the auditing and assurance profession, presenting both opportunities and challenges for practitioners. Artificial intelligence  is revolutionizing auditing and assurance services, enhancing audit quality and efficiency (Rodrigues et al., 2023; Ivakhnenkov, 2023). These advancements offer auditors new tools for data analysis, risk assessment, and fraud detection.

This white paper explores the potential impact of AI on audit quality, efficiency, and the evolving roles of auditors. It provides insights into the key areas where AI is being applied, real-world examples of AI implementation, the benefits and risks associated with its adoption, and practical recommendations for firms looking to integrate AI into their audit processes. The white paper also addresses regulatory and ethical considerations, the skills and competencies required of auditors in an AI-driven environment, and strategies for effectively communicating the value of AI-driven audits to clients and stakeholders.