Technology & Data

Keeping Up with AI-Driven Audits

Steven Sawyer · 5 Aug 2026

Compliance is slipping away from us on the latest financial reporting standards, we have just been informed that the UK Financial Conduct Authority will start using artificial intelligence to audit financial reports from this month. This is causing a lot of stress for our accounting team, as we do not have much experience with AI-driven audits. We are concerned that our current audit processes may not be suitable, so I was wondering how other companies are preparing for these new AI-driven audits, and what changes they are making to their financial reporting processes.

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1 reply

Antonio Stone · 5 Aug 2026

I think we're overestimating the impact of AI on audits, we've been using automated tools like SAP to review financial reports for years. Our accounting team should focus on getting familiar with the FCA's specific AI system, maybe we can even use something like Oracle's audit tools to prepare and simulate the process.