ICAEW.com works better with JavaScript enabled.

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

Why AI regulation must be stepped up

Artificial Intelligence offers exciting potential benefits to the audit profession, but without regulation it risks creating as many problems as it does solutions, warn Andrew Moyser and Mark Lumsdon-Taylor.

ICAEW cyber round-up: October 2023

This October marks the 20th anniversary of Global Cyber Security Awareness Month. In this round-up, we look at how cyber threats have evolved over the years and what this means for businesses and finance professionals.

The essential guide to audit tech

There has never been a more exciting time to explore the transformative potential of technology in relation to audit. Tech advances are helping to improve the performance of audit, making it more insightful and informing better conversations in audit teams and with clients.

Risks and assurance of emerging technologies

Cognitive and automation technologies such as artificial intelligence (AI) have drawn a great deal of interest, but also concern about the potential for bias and misuse. ICAEW’s Tech Faculty examines the risks associated with the adoption of emerging technology and how these risks can be tackled through internal controls and assurance.

AI in Corporate Advisory

The Corporate Finance Faculty and Drooms have published the world’s first research about the role of artificial intelligence in deals.

Webinars and recordings

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.

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.

Finance in a digital world

Complete the FDW eLearning course

ICAEW is collaborating with Deloitte to ensure its members and students have the knowledge and skills to take advantage of the opportunities offered by the fourth industrial revolution and to meet its challenges head on. Log-in to access exclusive eLearning content.

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

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.

Generative AI in accounting applications

The article provides a high-level outline of steps showing how an accountant can talk to ChatGPT to produce an accounts receivable report. Includes a table of do's and don'ts when using ChatGPT for automating tasks.

At the crossroads: generative AI and corporate risk management

This study aims to identify the risks to corporate reputation presented by deepfakes and how to manage them. While deepfakes have been the subject of intense interest, to the best of the author’s knowledge, this is the first attempt to look at the problem from the perspective of corporate enterprise risk.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

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.

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.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

* Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.