Members needed to shape guidance on AI ethics
ICAEW is developing CPD modules on artificial intelligence and ethics – and would like your input on their structure.
Artificial intelligence
Discover more about the impact of artificial intelligence and the opportunities it presents for the accountancy profession.
In this section
Features and articles
A practical application of AI: Building a Technical Director GPT
Dudley Gould, VP of Business Development at Circit, explores how ChatGPT can be used to build a customised technical GPT and discusses how and when accountants and auditors might use generative AI.
The role of Internal Audit in ethical AI
As AI progresses and gains wider acceptance, ethical considerations become increasingly significant. AI introduces ethical challenges across various domains, including democracy, justice and diversity and inclusion. This article explores these considerations, the associated risks, and the role internal auditors can play in promoting ethical conduct.
New £7.4m AI training fund open to accountants
ICAEW is urging accountancy firms to sign up to a new £7.4m funding pot to help staff at small and medium sized businesses boost their artificial intelligence (AI) skills.
Reports
ICAEW Manifesto 2024
ICAEW's manifesto draws on the insights and expertise of our members in making a call to action for the next government. It sets out our vision for a resilient future UK economy that is: productive, highly skilled, sustainable, innovative, resilient, trustworthy and leading on trade.
ICAEW Manifesto 2024
ICAEW's manifesto draws on the insights and expertise of our members in making a call to action for the next government. It sets out our vision for a resilient future UK economy that is: productive, highly skilled, sustainable, innovative, resilient, trustworthy and leading on trade.
Practical points: tax compliance and investigation January 2024
Every month, the Tax Faculty publishes short, practical pieces of guidance to help agents and practitioners in their day-to-day work. This month covers appeals, disputes and investigations; and penalties.
Sharpening the Focus on Corporate Fraud: an Audit Firm Perspective
A snapshot of the steps being taken by audit firms to better facilitate fraud deterrence and detection.
Webinars and recordings
Artificial intelligence: accountant’s friend or foe?
In this first episode of the ICAEW Student Insights podcast, host Jag Dhaliwal discovers how emerging technologies like artificial intelligence are influencing the work of accountants.
Generative AI: A Powerful Tool for Charities. Navigating the opportunities and safeguarding against risk
2023 has heralded an ‘AI boom’ following advancements in computing and AI technology. ChatGPT has become the fastest growing app in history – bringing Generative AI to the handsets and desktop of the general public. This on-demand ICAEW Charity Community webinar examines the ‘why’ and ‘what next’ for charities and advise how to take advantage of the benefits of greater AI adoption, whilst safeguarding against key risks.
Ethical decision making and the challenges of AI
A group of international experts discuss the benefits and potential pitfalls of artificial intelligence becoming an integral part of the accountancy profession.
Introduction to AI Standards
Understand how AI Standards, regulation and assurance combine to build and support industry and society.
Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
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Industry press
The Library & Information Service provides a hand-picked collection of industry press articles as a benefit of membership. If you are unable to access an article, please see our Help and support or contact library@icaew.com
Ethics of ChatGPT in education
The article evaluates the ethical issues surrounding the use of the AI model ChatGPT in accounting education. It delves into how to mitigate these ethical risks, analysing the findings of a survey on how students view the ethical risks of using the chatbot in the classroom and how their instructors view it from a learning perspective.
6 ways AI might impact manufacturers
The article focuses on the ways artificial intelligence (AI) integrated with enterprise resource planning (ERP) software can positively impact manufacturing. Topics include inventory management, quality control through AI-based inspection systems, pricing optimization, demand forecasting, AI's role in supply chain management, and predictive maintenance scheduling for minimizing downtime.
The ChatGPT Artificial Intelligence Chatbot: How well does it answer accounting assessment questions?
Using data from 14 countries and 186 institutions, the authors compare ChatGPT and student performance for 28,085 questions from accounting assessments and textbook test banks. As of January 2023, ChatGPT provided correct answers for 56.5% of questions and partially correct answers for an additional 9.4% of questions. The article provides evidence of how ChatGPT performs on different question types, accounting topics, class levels, open/closed assessments, and test bank questions. The implications for accounting education and research are also discussed.
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Useful links
Generative AI and the future of the legal profession
A LexisNexis July 2023 report into the views of UK legal professionals on using artificial intelligence (AI) tools within their firms. The report's findings included that clients want their law firms to adopt AI tools sooner than the latter think. Requires free registration to access.
State of AI in the Enterprise
Deloitte's fifth edition of the survey of executives to their sentiments and practices regarding AI technologies.
See also: 4th edition; 3rd edition; 2nd edition.
Establishing a pro-innovation approach to regulating AI
Policy paper from the Department for Digital, Culture, Media & Sport, Department for Business, Energy & Industrial Strategy, and Office for Artificial Intelligence on the UK's emerging approach to AI regulation.
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