PCAOB Releases Spotlight Publication on Use of AI in Audits and Financial Reporting

The PCAOB has released a publication that summarizes the Board’s observations from its “limited outreach to several audit firms and companies” regarding how generative artificial intelligence (AI) should be integrated into audits and financial reporting. The publication is part of the PCAOB’s “research project to assess whether there is a need for guidance, changes to PCAOB standards, or other regulatory actions in light of the increased use of technology-based tools in the preparation and subsequent audit of financial statements.”