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UK audit sector gets clarity on AI use with first guidance from FRC

( June 27, 2025, 09:04 GMT | Official Statement) -- MLex Summary: Auditing companies in the UK can now refer to practical guidance from the Financial Reporting Council on the use of artificial intelligence in audits. The FRC’s first set of guidance aims to be highly practical, offering a step-by-step approach to implementing a hypothetical AI-enabled tool. It includes information on the FRC’s documentation requirements, and is intended to apprise third-party technology providers of their customers’ regulatory expectations. There is also a review of how the six largest firms are certifying new tech used in audits.Statement follows:...

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