CAQ Publication: Auditing in the Age of Generative AI

Collective interest in and awareness of generative AI (genAI) has grown exponentially since the public release of several genAI chatbots powered by large language models. While artificial intelligence and machine learning are not new, the accessibility and ease of use provided by genAI chatbots and similar large language models have led to increased use by individuals and companies.

The Centre for Audit Quality (CAQ), a non-partisan public policy organisation serving as the voice of US public company auditors and matters related to the audits of public companies, issued a publication in April 2024, titled Auditing in the Age of Generative AI.

This publication explores some fundamental principles of genAI, new risks arising from its use in processes relevant to financial reporting or internal control over financial reporting, and related audit implications.

The publication may be accessed on: