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Thank you for posting Bryan Foss.
Tom McLeod as a knowledge industry the audit profession is ripe for the adoption of AI. As AI starts to take root within the audit profession, the UKs Financial reporting Council has issued guidance on the adoption of AI by UK auditors.
The adoption of AI by the audit profession faces challenges. Auditors cannot solely rely on Gen AI LLMs as tools to improve audit performance and value. Gen AI LLMs do not contain enough audit domain knowledge to generate the necessary assured outcomes that boards require to demonstrate audit assurance or attestation.
The audit profession, the audit process and the breadth of audit domains requires the development of domain specific LLMs. For AI to be effective you have to baseline and train LLM model reasoning against a domain. So that the evaluation is as accurate as possible and minimises hallucinations.
Our own cybersecurity audit solution demonstrates AI significantly reduces time to audit, improves audit quality and reduces audit risk. It does this by baselining AI audits against the cybersecurity domain knowledge and standards; domain specific audit and cyber expertise and domain specific prompts. Creating domain specific LLMs.
Faisal Khan Dan Miles Liz Sandwith CFIIA David Campbell Rob Beswick Michael G. Jacobides
https://lnkd.in/epvC2cPf
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