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Managing the risks of AI

Artificial intelligence offers many opportunities, but finance professionals must also consider how to manage the potential risks and ethical challenges the technology brings.

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Generative AI Guide

Risks and limitations of generative AI

The potential for generative AI is immense, but there are risks that accountants should be aware of when deciding to adopt generative AI. Existing approaches to tech strategy and wider governance principles, practices, and processes may not be completely suitable for generative AI and may need adapting and strengthening.
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Articles

Checklist for implementing software solutions
  • Helpsheets and support
  • 27 Nov 2025
Most businesses will, at some point, need to consider changing software provider, or implementing a new software solution. This checklist will guide businesses in addressing the key considerations when moving to a new software provider, as well as when reviewing agreements with existing providers.
How UK mid-tier accountancy firms can mitigate key risks associated with growth
  • Article
  • 13 Nov 2025
Article from Marsh Commercial on how they can help mitigate risk exposure, and protect both leadership and operational teams, in response to ICAEW’s 2025 Evolution of Mid-Tier Accountancy Firms report.
Expenses fraud: how to spot an AI-generated receipt
  • Article
  • 13 Nov 2025
AI-powered expenses fraud is on the rise. How can businesses protect themselves?
Applying the building blocks of ethical culture
  • Article
  • 04 Nov 2025
From whistleblowing and governance to equity, diversity and inclusion (EDI) and the use of AI, Global Ethics Day speakers unveiled a host of ideas for building and upholding strong organisational ethics.
Cyber resilience strategy: how to create and stress test a plan
  • Article
  • 30 Oct 2025
Increasingly seen as a vital component of a company’s trustworthiness, a cyber resilience plan must be tailored to the nature of the business and be easy to put into action.
Cyber security biggest risk as businesses reel from major attacks
  • Article
  • 23 Sep 2025
Annual poll of Chief Internal Auditors highlights cyber security as the number one risk, with digital threats intensifying following attacks on European airports over the weekend and recent cyber breaches at M&S, the Co-op, Harrods, The North Face and Jaguar Land Rover.
Cyber roundup: the dangers of spoofing
  • Article
  • 28 Aug 2025
Spoofing exposes Sharepoint vulnerabilities; MoD data breach; and the devastating consequences of one weak password.
Use of AI criticised in tax case
  • Article
  • 12 Aug 2025
ICAEW’s Tax Faculty explains why a decision of the Upper Tribunal handed down on 23 July 2025 provides a timely reminder of the need to review the accuracy of AI responses on tax matters.
More AI articles

Recordings

The new frontier for internal assurance: sustainability, AI, and geopolitics
  • Webinar
  • 11 Sep 2025
This webinar recording will explore the intersection of sustainability, artificial intelligence (AI), and geopolitics, and how these factors are reshaping the internal assurance landscape.
Exclusive AI Series: Risks with AI and Generative AI
  • Webinar
  • 08 Apr 2025
Stay ahead of AI risks with expert insights from Rajendra Shroff. Explore real-world AI failures, accounting pitfalls, and the evolving regulatory landscape. Learn how top companies manage AI risks, enhance change management, and train staff effectively. Gain practical strategies to protect your organisation and career while staying competitive in an AI-driven world.
More AI recordings

Reports

Evolution of mid-tier accountancy firms 2025 research findings
  • Report
  • PDF (2,221kb)
This year’s ICAEW research on the evolution of mid-tier accountancy firms explores key themes shaping the profession in 2025, including structural shifts, talent strategies, technology, and emerging service line offerings. Against a backdrop of political and economic uncertainty, regulatory complexity and rapid technological advancement, the research highlights how firms are navigating change, pursuing opportunities and supporting their clients’ growth.
Exclusive Harnessing AI – governance, risk management and strategic opportunities for SMEs
  • Report
Generative AI offers incredible opportunities for small and medium-sized businesses to innovate and stay competitive. From creating personalised customer experiences to automating routine tasks, AI can revolutionise the way you operate. But with these opportunities come challenges – like protecting data, ensuring transparency, and upskilling your team.
Ethics and AI
  • Report
  • PDF (1,006kb)
In 2024, ICAEW’s Trust and Ethics Team hosted roundtables on shaping guidance for the accountancy profession on the ethical use of artificial intelligence. Read an overview of the discussions, offering insights into real-life use cases and the risks that must be managed.
Risks and assurance of emerging technologies
  • Thought leadership report
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.
More AI reports

Training

Innovating finance with AI (Virtual)
  • Course
A guide to digital technologies and their impact. This immersive course empowers accountants with strategies to implement key technologies like automation, AI and advanced analytics.

Further resources

Resources
Artificial intelligence
Artificial intelligence

Discover more about the impact of artificial intelligence and the opportunities it presents for the accountancy profession. Access articles, reports and webinars from ICAEW and resources from tech experts.

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Generative AI Guide

Explore the possibilities of generative AI in accounting through ICAEW's guide to Gen AI, covering use cases, risks, limitations, ethics and how to get started.

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Events
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Technology events

ICAEW's events programme brings together leading industry speakers across practice and business. Connect and network with your peers while keeping up to date with the latest developments in technology.

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