LNB News 27/06/2025
Document Information
Issue Date: 27 June 2025
Published Date: 27 June 2025
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
The Financial Reporting Council (FRC) has published its first guidance on the use of artificial intelligence (AI) in the audit profession, accompanied by a thematic review of certification processes and controls for technology and automated tools at the UK’s six largest audit firms. The guidance explains how AI can be used to enhance audit work and clarifies the FRC’s expectations regarding the proportionate and appropriate documentation of tools that use AI. It is intended to assist auditors and central teams at audit firms in developing and using AI tools, while also setting out regulatory expectations for third-party technology providers. The guidance is not prescriptive and does not introduce new regulatory requirements.
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