Global audit standard-setter publishes first guide on using AI tools in audits

The International Auditing and Assurance Standards Board (IAASB) has published the first part of a four-part guide on managing quality when auditors use AI tools, Generation Impact reported.

Guide 1 sets out common definitions for AI-enabled tools, describes their life cycle, explains the quality management responsibilities of audit firms and engagement teams, and gives guidance on assessing the risks. The guides are non-binding and add no new requirements; they help firms apply existing quality management standards to AI.

The rest of the series is planned in stages, subject to board approval: Guide 2, on firm-level quality management before an AI tool is deployed, in January or February 2027; Guide 3, on use and oversight during an audit, in April or May 2027; and a complete edition with Guide 4, on monitoring tools after deployment, in July or August 2027.