Big accountancy firms fail to monitor AI’s impact on audit quality, says FRC The FRC has warned that big accountancy firms aren’t tracking how AI tools affect audit quality, raising concerns over ...

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Because of its rapid adoption, the FRC has encouraged firms to define metrics to evaluate the impact of AI tools on audit quality.

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The FRC are meeting this evening with a view to finalising any tweaks before championship. They could help themselves by reining in some of their excesses and softening a few of the penalties.