What auditors need to understand, document and defend in the age of AI?

This webinar helps auditors navigate the professional and regulatory risks of using AI in audit, while unlocking the benefits responsibly. This session is relevant whether you’re exploring AI adoption or already using it.

What you’ll learn:
– The key risks facing auditors using AI from model bias to liability exposure
– Why independence and vendor oversight now matter more than ever
– Red flags in third-party tools, LLMs and AI-driven analytics
– The skills and governance frameworks firms should be building now
– Bonus: Live Q&A and downloadable summary guide included

Meet the speaker:

David Jordan Gee
A technology risk expert, former CIO and CRO, David brings deep knowledge in cyber, operational resilience and audit governance. He works with boards and audit leaders across APAC to support responsible innovation.

Rob Valdez, Director of Business Intelligence at Novogradac, shares how his firm is leveraging Caseware Sherlock to monitor and improve audit efficiency. With more than 10,000 audits annually, Caseware Sherlock provides real-time data and benchmarking, allowing Novogradac to optimize hours, segment by practice area and drive efficiency without compromising quality.

Michael Zipkin, Senior Manager, Assurance at Demers Beaulne shares how his firm is using Caseware Sherlock to deliver value-added insights to clients. By transforming audit data into actionable dashboards, Sherlock allows Demers Beaulne to provide clients with real-time performance indicators alongside traditional financial statements, turning the audit into a strategic advisory opportunity.

Traditional financial statement reviews often slow down engagements with manual, error-prone tasks that strain teams and timelines. 

Today, forward-thinking firms are reimagining the review process with AI-driven technology. AI-powered financial statement review software streamlines reviews, reduces manual effort and supports faster, more accurate audits without removing auditors from the process. 

Why manual reviews hold firms back 

Anyone in audit knows the reality of manual financial statement reviews: valuable time is wasted recalculating and rechecking statements—when they should be focused on narrative and analysis. 

Human error 

Even the most detail-oriented professionals can miss inconsistencies or transpose numbers. The risk is higher for junior staff who are still learning the ropes and without automation, there’s no built-in safety net to catch mistakes. 

Burnout and retention 

Repetitive tasks like cross-casting, note checking and prior-year comparisons are a major drain on talent. Skilled professionals want to focus on meaningful work—not low-value, manual processes. As talent retention becomes harder across the profession, this challenge can’t be overlooked. 

Lack of transparency 

Manual systems often lack a clear, verifiable audit trail. In a profession built on trust and accountability, this limits the ability to validate findings and defend decisions. 

Never-ending review process 

New disclosure requirements and frequent client revisions are adding hundreds of checks per engagement. “Clients often iterate through 10+ versions of statements with auditors,” said Jack Holloway, Commercial Director, Solutions Consulting at Caseware, during a recent webinar. “This creates inefficiencies and miscommunications.” 

These pain points are driving a shift toward smarter, tech-enabled review processes. 

Where AI makes the difference 

Caseware Validate is AI-powered financial statement review software that automates over 450 checks per statement. After uploading a PDF, Validate immediately scans for mathematical errors and consistency issues. 

Results are flagged with a clear, color-coded triage system (green, yellow, red), so your team knows exactly where to focus. Green fields are clear, red fields require correction and yellow flags signal areas that need human review. 

That yellow flag is key. “Yellow flags require human confirmation to ensure accuracy but eliminate false positives in green fields,” Holloway explains. It’s a seamless blend of automation and professional judgment, keeping auditors in control while eliminating the most repetitive work. 

Tangible results for firms 

Validate is already transforming how firms approach reviews. One audit team achieved significant time savings on first draft reviews and 40-50% efficiencies on subsequent drafts. Another firm lowered average casting time from 25 minutes to 12 and first-pass reviews from 58 minutes to 42. 

That operational efficiency creates ripple effects. Partners can review statements with confidence, knowing that an intelligent check has already occurred. Staff are no longer stuck in spreadsheets. They’re analyzing issues, consulting with clients and growing their skills. 

The result is happier teams, better audits and more value delivered to clients. 

Empowering people, not replacing them 

AI doesn’t replace the expertise of auditors. It enhances it. 

With Validate, staff can participate in reviews without being bogged down by mindless number-checking. This accelerates learning, keeps them engaged and supports stronger professional development. 

Meanwhile, experienced auditors get time back to focus on what matters most: exercising judgment, managing risk and delivering insights to clients. 

Modernize your firm with the right tools 

The demands on audit firms continue to grow: increasing complexity, tighter deadlines and fiercer competition for talent. In this environment, manual reviews are no longer sustainable. 

AI-driven solutions like Caseware Validate are enabling firms to keep pace with today’s demands. They reduce review times, improve quality and make life easier for the people doing the work. 

Ready to see the impact for yourself? Find out how firms like MHA and HLB Mann Judd Perth are using Validate to speed up first drafts and improve quality. 

Or contact us today to discover how Validate can accelerate your financial reviews. 

Audit firms across the Asia Pacific region are entering a decisive phase in 2025. Regulatory demands are increasing, the talent pipeline remains under strain and clients are seeking faster, more insightful engagements. At the same time, advances in cloud technology are making it possible to transform audit operations in ways that improve quality, reduce inefficiencies and help firms stay compliant. 

Firms that continue relying on legacy systems are struggling to meet these new expectations. In contrast, those that have embraced cloud-first platforms like Caseware Cloud Audit are building the agility and transparency needed to navigate an increasingly complex environment. 

Regulatory expectations are escalating 

Regulators in Australia and Singapore are sharpening their focus on audit quality. In Singapore, the Accounting and Corporate Regulatory Authority (ACRA) reported in its 2024 Audit Regulatory Report that recurring failures persist in critical areas such as independence, quality control and documentation. These deficiencies were identified across both engagement-level and firm-level inspections, reinforcing the need for stronger processes and oversight. 

In Australia, the Australian Securities and Investments Commission (ASIC) continues to express concern about audit execution. Its January 2024 release noted that 58 percent of key audit areas reviewed in the latest cycle required improvement. In many cases, this stemmed from a lack of sufficient audit evidence or inadequate documentation of professional judgement. 

These findings reflect a broader challenge: manual and fragmented workflows are no longer fit for purpose in a regulatory landscape that increasingly demands timely, consistent and well-supported audit outcomes. 

Clients are demanding more insight and speed 

Alongside regulatory pressures, clients are raising their expectations. They want faster delivery, better communication and greater value from their audit partners. According to Deloitte’s Southeast Asia CFO Survey, 74 percent of CFOs across the region are actively integrating automation into their finance functions to meet growing expectations for efficiency and insight. 

This shift is influencing how audits are performed. As clients adopt cloud-based platforms and operate with real-time data, they expect their audit providers to mirror that level of responsiveness and digital maturity. 

The talent shortage is a structural challenge 

Staffing pressures are compounding these demands. Chartered Accountants ANZ reports that accounting and audit roles remain among the hardest to fill in Australia, with vacancy fill rates below 67 percent across key disciplines such as external audit, tax and business advisory. 

Meanwhile, workforce forecasts suggest that demand for accountants will exceed 338,000 by 2026. Meeting that demand would require close to 10,000 new professionals entering the workforce each year. With current graduate numbers falling short, firms are being forced to find smarter ways to allocate limited resources without sacrificing audit quality. 

Cloud-based tools are reshaping the audit process 

In this environment, cloud technology is becoming more than a convenience, it is a necessity. Caseware Cloud Audit provides a centralised, secure platform that streamlines the entire audit engagement lifecycle. The platform enables real-time collaboration, guided workflows and integrated analytics that help teams manage engagements more efficiently and consistently. 

Importantly, Caseware’s audit templates are tailored to local regulatory standards. In Singapore, templates align with the ISCA Audit Manual, offering a structured approach to planning and documentation. In Australia, the platform supports AUASB requirements, including ASA 315 and ASA 540, ensuring that professional judgement and risk assessments are properly documented. 

With built-in dashboards and version control, audit teams gain transparency over file status and review progress. Reviewers can work asynchronously across locations and time zones, while audit trails support defensible conclusions and simplify regulatory inspections. 

Built for scale, security and long-term compliance 

Caseware Cloud Audit is designed to serve firms of all sizes, from local partnerships to regional networks. The platform is hosted in ISO 27001-certified environments, providing enterprise-grade data security, access controls and system reliability. Audit files are stored with retention and review requirements in mind, supporting firms in meeting both client expectations and statutory obligations. 

Automatic updates ensure that firms are working with the latest templates and standards, reducing the risk of version drift or manual error. This significantly reduces the IT burden and allows firms to focus on delivering quality audits, not maintaining infrastructure. 

A future-ready approach to audit 

Audit delivery in 2025 is no longer just about ticking boxes. It is about enhancing professional judgement, ensuring consistency, and being able to demonstrate quality under review. In a competitive market where clients value both speed and insight, firms that modernise their approach are better positioned to retain trust, attract talent and deliver sustainable growth. 

Caseware Cloud Audit helps firms respond to these challenges with confidence. It enables better collaboration, smarter workflows and stronger documentation all within a platform built for today’s standards and tomorrow’s expectations. 

Discover how Caseware Cloud Audit is helping firms across Asia Pacific modernise their audit capabilities. 

Key Highlights

• MHA needed a firm‑wide solution that could standardise the review workflow, reduce time on every draft, and, most importantly, deliver rock‑solid accuracy that auditors could trust. 
• MHA chose Caseware Validate, a cloud-based solution that runs thousands of checks on financial statements in seconds with AI-powered precision, eliminating errors, accelerating review times, reducing manual work and ensuring compliance.
• Validate delivered the highest level of accuracy, enhanced auditor confidence and significantly improved efficiency without compromising quality. 

“Validate gave us more assurance. It was more prudent, more robust and made us think critically about the output.”

Bronwen de Abreu, Technical Director for Audit Data Analytics, MHA 

Company Profile 

MHA is a leading UK firm of chartered accountants, tax advisers and business advisers, and the exclusive UK member of Baker Tilly International. With more than 20 offices across the UK, the firm combines deep local insight with the reach and resources of a 700‑office global network to help organizations and individuals achieve long‑term success. 

Backed by approximately 1,900 professionals, MHA delivers a full‑service offering that spans audit and assurance, tax, corporate finance, business advisory, outsourced finance and private‑client wealth services.  

Challenge 

With thousands of audit engagements each year, MHA’s teams spent significant time on manual financial statement reviews. Each set of accounts typically took close to an hour to cast, cross‑check and reconcile, with processes varying by office.  

Some teams used printed statements, others entered figures into Excel or relied on limited automation from a third-party Excel tool. Reviewers often marked up Word documents or performed calculations manually, using disconnected methods.. 

While teams maintained thorough reviews, the absence of a unified platform made consistency and prevention of errors challenging, without additional oversight. This decentralized approach limited the ability to scale review quality and efficiency as the firm continued to grow. 

MHA sought a firm‑wide solution to standardise the review workflow, reduce time on every draft, and, most importantly, deliver rock‑solid accuracy that auditors could trust. 

“Everyone wants efficiency,” noted Bronwen de Abreu, Technical Director for Audit Data Analytics at MHA. “But due to my technical background and because we’re in a highly regulated market, I knew quality was the more important thing.” 

Solution 

De Abreu brought a rare blend of audit depth and change‑management knowledge to MHA’s technology search. After qualifying as a CA (SA) at KPMG South Africa and transferring to KPMG London’s insurance department, she pivoted into learning and development, first training auditors at KPMG, then aspiring ACA candidates at Kaplan. Her transition into data analytics integration developed during her time at the mid-tier firm where she identified the need to bridge the gap between the introduction of audit technology and its use in the audit service line. 

When MHA hired her as the lead on audit data analytics, she quickly targeted one of the firm’s most time‑consuming tasks—financial‑statement reviews.  

De Abreu already had experience using a third-party tool for financial statement reviews in a previous role, but she didn’t want to default to it, without examining other options.  

“I had heard whispers about Validate and decided to investigate further,” she said. “I didn’t want to just automatically go with the product I was accustomed to using.” 

Caseware Validate is an intelligent automation tool built to simplify and accelerate the financial statement review process. By rapidly scanning and testing financial data for accuracy and consistency, Validate reduces the need for manual intervention, minimises the risk of errors and significantly shortens review timelines. 

Results 

To find the ideal firm‑wide solution, MHA ran a data-driven, head‑to‑head pilot between two shortlisted financial statement review tools. Audit staff put both platforms through identical tests using the same sets of accounts. The selection criteria were: 

• Efficiency – Validate cut average casting time from 25 minutes to 12 minutes and reduced a full first‑pass review from 58 minutes to 42 minutes, setting the stage for significant annual time savings when rolled out across thousands of engagements.  
• Quality/False Positives – Validate delivered zero false positives – cases where a tool says something is correct, when it is in fact wrong – and flagged “indeterminate” items that prompted appropriate professional judgement, giving auditors greater confidence in the results. The lack of false positives was a key consideration for MHA. 
• Casting accuracy – Validate identified issues that could be missed in manual reviews. It flagged inconsistencies or potential errors more reliably. 
• User Interface – Because Validate runs as a standalone, cloud‑based application (not an Excel add‑in), it eliminated the crash‑and‑data‑loss issues teams sometimes encountered in large workbooks when using the competing tool.  
• Version comparison – Validate automatically carries forward previously reviewed items and highlights only what’s changed. This meant that teams didn’t waste time re-checking sections that were already accepted in prior reviews. 

After weighing the results, MHA selected Caseware Validate as the firm’s financial statement review platform, confident it would deliver the consistency and quality its audit practice demands.  

For example, when checking statements the competing product would only look at the numbers, whereas Validate would look at both the number and description. 

“Validate gave us more assurance,” de Abreu explained. “It was more prudent, more robust and made us think critically about the output.” 

“We never encountered any false positives,” she noted. “We also found the ‘maybe’ or indeterminate flag in Validate particularly useful. It didn’t just give us a simple yes—it prompted us to think critically and apply our professional judgement, rather than solely relying on the software.” 

The Future

Backed by a strong business case highlighting both quality gains and cost savings, de Abreu mandated adoption of Validate across MHA’s offices. To ease initial resistance, she encouraged hesitant users to simply “spend five minutes” with the tool, a tactic that proved effective.  

With Caseware Validate now established as MHA’s firm-wide standard for financial statement reviews, de Abreu and her team are focused on driving deeper adoption and unlocking its full potential.    

While the platform has already delivered notable time savings and quality improvements, de Abreu sees further opportunities to enhance workflows, particularly through greater use of advanced Validate features like referencing and version tracking. 

As more staff become familiar with Validate, de Abreu expects continued gains in both efficiency and review quality. “Everyone has that fear factor at first,” she said. “But once they try it, they never want to go back.”  

Challenge 

Auditeo was limited by paper-heavy and manual processes that restricted efficiency and collaboration. 

Solution 

The firm adopted Caseware Extractly and Caseware Validate to speed up transaction testing and financial statement reviews. 

Results 

Auditeo reduced transaction testing time by over 50%, freeing up hours for more valuable tasks. 

“We reviewed timesheets before and after using Extractly and the difference was dramatic. It saved us hours per engagement.” 

Didarul Khan, Director, Auditeo 

Company Profile

Auditeo, based in Sydney, Australia, is an audit firm founded by Didarul Khan in 2020. With nearly two decades of experience in the field, Khan set out to create a modern approach to auditing, focusing on efficiency, transparency and innovation. Today, Auditeo is a team of nine, providing a full suite of assurance services to clients ranging from $10 million to $500 million in revenue. 

Challenge 

When Auditeo first opened its doors, Khan knew that time-consuming transaction testing was a major challenge for his team. The process was manually intensive, requiring junior staff to transcribe data from invoices and other documents into audit workpapers. The data typically came from PDFs and poor-quality images, often resulting in errors during the verification process. 

The process was not only slow but also prone to mistakes. Senior reviewers frequently questioned the accuracy of the matches, leading to delays and rework. Khan was looking for a cost-effective solution that would save time and improve accuracy, especially considering the firm’s size and budget. 

That’s when he discovered Caseware Extractly, an AI-powered tool that could automate much of the time-consuming transaction testing work. And, to further streamline their processes, the firm added Caseware Validate to accelerate the financial statement review process. 

Solution 

Caseware Extractly and Caseware Validate together formed the perfect solution for Auditeo’s workflow challenges. 

Caseware Extractly uses AI-driven automation to extract and organize data from structured and unstructured documents, such as PDFs, scanned images, and handwritten files, directly into Excel. This made it easy to convert bank statements, invoices and ledgers into clean, audit-ready formats. It also streamlined the matching procedures, validating amounts and supplier names against accounting records within seconds. This automation dramatically reduced time spent on transaction testing and ensured greater accuracy. 

Caseware Validate complemented Extractly by transforming the financial statement review process. Auditors previously spent hours manually reviewing large financial reports, but with Validate, the review process became incredibly fast and efficient. This tool enables teams to quickly analyse Microsoft Word-based financial reports, saving considerable time and reducing the risk of errors. 

The ease of onboarding and intuitive design meant Auditeo’s team adapted quickly to both tools, and Caseware’s responsive support ensured a smooth transition. 

Results 

The results were immediate and significant. Within just a few months of adopting Caseware Extractly and Caseware Validate, Auditeo reduced transaction testing time by over 50%, freeing up hours for more valuable tasks. 

“We reviewed timesheets before and after using Extractly and the difference was dramatic,” said Khan. “It saved us hours per engagement.” 

Additionally, the accuracy and consistency of audit evidence greatly improved as a result of fewer manual data entry errors. This allowed junior staff to focus on higher-value tasks, such as conducting more thorough risk assessments and reviewing balance sheets. 

Caseware Validate also had a major impact on the firm’s efficiency. Previously, reviewing large financial reports could take four to five hours. Now, with Validate, this process is completed in just 10 minutes. 

“When we audited some listed companies and received financial reports in Word format, it would take hours to review them manually. Now, with Validate, we save a huge amount of time,” Khan said. 

The Future

Looking ahead, Khan sees Caseware Extractly and Caseware Validate as game-changers for small to mid-sized audit firms, especially those dealing with large volumes of invoice and expense testing, as well as complex financial statement reviews. However, he also acknowledges that the biggest barrier to adoption isn’t technology—it’s the mindset of some auditors. 

“The biggest challenge isn’t the technology. It’s getting people to embrace it,” Khan shared. “Many auditors are still hesitant to change. But once they see how much time Extractly and Validate save, it becomes an easy decision.” 

For firms struggling with capacity issues, Khan recommends giving these tools a try. “They pay for themselves quickly,” he added. “If you show someone how much time they can save on each job, it’s an obvious choice.” 

Conclusion

Auditeo’s success with Caseware Extractly and Caseware Validate is a powerful example of how modern audit technology can transform a firm’s efficiency and accuracy. By automating routine tasks like transaction testing and financial statement review, Auditeo has freed up valuable time for higher-level analysis, improved audit quality and enhanced client satisfaction. For firms of Auditeo’s size, these tools have made a tremendous difference, and Khan wouldn’t consider using anything else. 

Contact us today to see how Extractly can transform how your team verifies financial data. 

Caseware is proud to continue its strategic partnership with the Institute of Singapore Chartered Accountants (ISCA) into FY2026. Now in its second year, the collaboration supports Singapore’s accounting professionals by promoting the adoption of digital tools, sharing audit and analytics expertise, and offering a wide range of engagement opportunities. 

Supporting a digitally enabled profession 

The partnership aims to equip accounting professionals—across firms of all sizes—with practical solutions to navigate a rapidly evolving regulatory and technological landscape. ISCA members are introduced to Caseware’s suite of cloud-based tools designed to streamline audit workflows, improve compliance, and enable real-time collaboration. 

In addition to software exposure, the initiative features webinars and expert-led sessions to help members strengthen their digital competencies and adapt to new technologies. 

ISCA Tech Talk: Exploring AI in audit 

A key highlight of this year’s program is the upcoming ISCA Tech Talk, a co-hosted webinar where Caseware will present on the growing role of artificial intelligence in audit practices. As one of Caseware’s most impactful product capabilities, AI is transforming how firms manage audit quality, risk assessment, and data analysis. 

This session will give participants a closer look at how AI is being applied in real-world audit scenarios and provide guidance on how firms can begin incorporating these tools into their own workflows. The webinar is open to ISCA members and is designed to spark discussion, share best practices, and showcase innovation. 

Showcasing innovation at Tech Fair 2025 

Caseware will also participate in ISCA’s Tech Fair 2025, scheduled for July 11, 2025, at ISCA House. The event serves as a major platform for accounting professionals to explore emerging technologies and their applications within the profession. 

Located in the SMP-focused zone on Level 4, Caseware will host live product demonstrations and discussions focused on audit innovation. Attendees can engage with our team to explore how our solutions are used to enhance audit efficiency, collaboration, and compliance across practice sizes. 

Looking ahead 

This ongoing collaboration with ISCA reflects Caseware’s commitment to empowering accounting professionals with intelligent technology and meaningful educational experiences.  

We look forward to connecting with ISCA members at the Tech Fair and during the ISCA Tech Talk series. 

To learn more about Caseware’s solutions or to connect with our team, please visit caseware.com. 

Caseware will join Chartered Accountants ANZ (CA ANZ) at the 2025 Audit Conference on 21 May, continuing a strategic partnership aimed at advancing the accounting profession’s use of technology and standards-driven practices.

As a key annual gathering for audit professionals, the conference facilitates exchange on sector challenges and future directions. Caseware’s participation reflects its focus on equipping auditors with tools and insights that support both compliance and professional judgement in increasingly digital environments.

Danielle Supkis Cheek, Caseware’s Senior Vice President of AI, Analytics and Assurance, will present on Enhancing Audit Decisions: Integrating AI and Critical Thinking. Her session will examine how AI can complement human judgement in the audit process, and what it means to make sound decisions when leveraging automation. Supkis Cheek will outline approaches to integrating technology without losing sight of audit fundamentals such as independence, scepticism and quality assurance.

Engaging the profession through thought leadership

This latest collaboration follows a well-attended webinar in April, part of the Caseware Speaker Series and co-hosted with CA ANZ. The session attracted nearly 900 attendees from across the audit and accounting field, underscoring a strong demand for guidance on emerging technologies.

AI governance expert Dr Kobi Leins led the session, challenging participants to view AI not as an abstract innovation but as a business tool requiring structure, transparency and accountability. Her practical approach focused on how firms can evaluate AI solutions in line with established regulatory and ethical frameworks.

During the session, Caseware’s AI-enabled assistant, AiDA, was also mentioned. AiDA recently received certification from Holistic AI, verifying its alignment with ISO/IEC 42001—the international standard for AI management systems. While not endorsed as a prescriptive solution, AiDA was presented as an example of how AI technologies can be built with governance in mind. Dr Leins emphasised that it is the implementation strategy and oversight mechanisms—not the technology alone—that determine whether AI use is responsible and effective.

Delivering practical value to CA members

Beyond knowledge-sharing, the Caseware–CA ANZ partnership is also delivering practical benefits for members. CA ANZ professionals will have access to exclusive offers on Caseware Validate—a cloud-based tool that automates financial statement reviews to ensure accuracy, compliance and consistency. By reducing manual effort and enhancing standardisation, Validate allows practitioners to redirect time toward risk assessment and analytical tasks.

This offering reflects a broader commitment by both organisations to align digital capabilities with professional needs. As standards evolve and regulatory expectations grow more complex, Caseware and CA ANZ are working to ensure members are equipped with the tools and understanding required to deliver high-quality engagements.

Further joint initiatives are in development and will be announced over the coming months.

To learn more and view upcoming events, visit: https://www.caseware.com/au/resources/events/

As artificial intelligence continues to shape the future of audit and assurance, auditors are facing a new set of challenges. From understanding what constitutes “AI” to ensuring compliance with regulatory frameworks, governance has emerged as a critical priority for firms adopting digital tools. In a recent April webinar hosted by Caseware and Chartered Accountants ANZ, Dr Kobi Leins, an expert in AI ethics and governance, laid out practical strategies for close to 900 accountants and auditors in attendance navigating this increasingly complex terrain. 

One of the most compelling takeaways from the session was Dr Leins’ insistence on abandoning the idea of AI as a mystical or inherently transformative force. Instead, she encouraged auditors to view AI as a tool—no different than a calculator or spreadsheet—that demands scrutiny, structure, and oversight. “Would you call a toaster responsible?” she asked. “It’s a technology. What matters is whether it’s used in compliance with existing regulation and best practice international and Australian standards.” 

Asking the right questions 

Dr Leins emphasised that the foundation of good AI governance lies in asking the right questions. Whether evaluating a vendor product or developing an internal solution, auditors should interrogate the data sources, algorithmic design, and decision-making processes involved. Are the training datasets inclusive and free of bias? Is there clear documentation about how decisions are made? Can outcomes be traced and explained? 

These questions are particularly salient in the audit profession, where even small miscalculations can have outsized impacts on stakeholders. Leins pointed to the infamous Zillow incident—where poor AI modelling led to hundreds of millions in losses—as a cautionary tale. 

Five pillars of AI governance 

To help firms build effective governance frameworks, Dr Leins proposed a structure based on five interlocking elements: 

1. Policies – AI policies should be integrated into broader company strategies, including codes of conduct and executive KPIs. 

2. Processes – Auditors must map where and how AI is used, particularly in high-risk areas like client data handling and automated analysis. 

3. People – Staff training is critical. Leins cautioned against assuming that users inherently understand AI risks, noting that many still feed confidential data into public platforms. 

4. Planning – Firms should avoid implementing AI just to “keep up” with competitors. Instead, AI should be deployed in line with specific business problems. 

5. Performance metrics – Success should be measured not just by usage, but by outcomes. Is the technology saving time? Enhancing quality? Empowering staff? 

The auditor’s role 

Auditors are uniquely positioned to act as stewards of responsible AI use. Their familiarity with compliance, documentation, controls and regular audits equips them to identify both risk and opportunity in emerging technologies. Yet according to polls taken during the webinar, over 25% of attendees had not yet begun using AI in any formal capacity. 

This hesitation may be linked to the “black box” nature of some AI tools, which can make it difficult to verify outputs. Leins recommended critical engagement with outputs, regular validation processes, and always maintaining human oversight. 

Caseware AiDA and industry certification 

While not the focus of the webinar, Caseware’s own AI tool, AiDA, was mentioned in the discussion. AiDA recently received certification from Holistic AI, a third-party assessor of responsible AI systems. The certification reflects alignment with ISO/IEC 42001, the international AI management standard. 

Rather than endorsing any single tool, Leins stressed the importance of firms selecting solutions that align with their specific risk appetite and business goals. The broader message was clear: the success of AI in audit depends less on the tool itself and more on how it is governed and applied. 

Leveraging AI as an assistant 

When used well, AI has the potential to function as an invaluable assistant—sifting through documents, highlighting anomalies, or generating first-draft summaries. However, auditors must remain vigilant about where it is appropriate to delegate tasks and where human judgement remains irreplaceable. 

This approach aligns with a key piece of advice from Leins: always begin with your business problem, not the technology. “Start with the issue you’re trying to solve,” she urged. “Then decide whether AI is the right tool.” 

Looking ahead 

With regulatory scrutiny increasing and client expectations evolving, now is the time for audit firms to solidify their AI governance practices. Accountants and auditors looking to better understand these principles can download Caseware’s AI Guide for Accountants here. 

For more information about strategic AI management, governance or compliance, whether policies, process or people uplift – feel free to reach out to either Kobi@infosphereeducation.com or for more information, check out  https://infosphereeducation.com/. 

For those who missed the April session, registration is now open for the next event in Caseware’s Speaker Series: ‘Rethinking IFRS Reporting for Better Business Insights‘, taking place in 26 June. Sign up here to reserve your place and stay ahead of the curve.

The series offers discussions with professionals across the audit and accounting field, focusing on current trends and practical insights.