Accountancy Insights: How should audit firms use AI?

This episode focuses on the integration of AI in audit processes, emphasising the need for practical guidance from the Financial Reporting Council (FRC) to build industry confidence, especially with smaller firms. The conversation highlighted the importance of human oversight, the role of third-party technology providers, the challenges of explainability and data security, and the need for clear communication with clients.Philippa Lamb is joined by Ramana McConnon, Head of Assurance Technology at the FRC, Jon Morris, Director of Audit and Professional Standards for Grant Thornton, and Martin Brown, Gen AI lead in Deloitte’s Audit technical team. Time codes04’50”: Discovering the AI use cases and benefits of the new technology for smaller firms13’49”: Understanding explainability and the need for human oversight with AI solutions18’25”: Are off-the-shelf solutions enough and will firms need to make big investments?LinksICAEW: FRC publishes landmark guidance on the uses of AI in audit - https://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/frc-publishes-landmark-guidance-on-the-uses-of-ai-for-auditFRC guidance on audit and AI - https://media.frc.org.uk/documents/AI_in_Audit.pdfICAEW: AI in audit: opportunities and challenges - https://www.icaew.com/technical/audit-and-assurance/faculty-resources/webcasts/ai-in-auditHostPhilippa LambGuestsRamana McConnon, Head of Assurance Technology at the FRCJon Morris, Director of Audit and Professional Standards for Grant ThorntonMartin Brown, Gen AI lead in Deloitte’s Audit technical teamProducerNatalie ChisholmEpisode first published: 11 November 2025Podcast recorded: 7 November 2025

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