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AI is exciting audit firms — maybe too much
Financial Times Technology
Factual evidence
What the source reports
Audit firms including KPMG and EY are rapidly deploying AI, though systems still require human oversight to manage output risks.
OneBench interpretation
Institutional assessment
So what
AI deployment in external audit firms signals heightened scrutiny on how banks govern similar internal controls and financial reporting tools.
Do what
Review human-in-the-loop controls with the team responsible for internal audit and financial controls before expanding automated reporting tools.