From www.accountingtoday.com: [US context] Auditors should begin implementing frameworks for auditing AI algorithms to ensure accountability and transparency within financial processes, as current reliance on AI could compromise the integrity of financial statements.

The Public Company Accounting Oversight Board stresses the importance of documenting AI tool evaluations, mirroring the rigor of past financial regulations like Sarbanes-Oxley.

To foster a robust oversight regime, firms are encouraged to pilot voluntary algorithm audits, integrating practices from traditional auditing while addressing inherent AI risks.