The International Auditing and Assurance Standards Board (IAASB) in the US has published the first part of a four-guide series on applying quality management standards to AI-enabled technological tools in audit and assurance engagements
The series, Applying the IAASB’s Quality Management Standards to AI-Enabled Technological Tools, was developed in response to calls for consistent and quality use of such tools in audit and other assurance engagements.
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The initial release includes an introduction to the series and Guide 1: Common Conceptual Foundation.
Guide 1 sets out the definition and life cycle of an AI-enabled technological tool. It also covers quality management duties at firm and engagement level, alongside risk assessment factors intended to help firms identify and evaluate quality risks.
The guidance builds on the IAASB’s existing quality management standards.
Its development drew on input from industry representatives and global regulatory bodies participating in the IAASB’s Technology Quality Management Expert Group.
IAASB plans to issue the remaining guides in phases.
Guide 1 is available for immediate use but may be updated as further issues emerge and the wider series is developed.
Subject to IAASB approval, Guide 2, covering firm-level quality management before deployment, is expected in January or February 2027. Guide 3, on engagement-level use and oversight, is planned for April or May 2027.
An integrated edition is expected in July or August 2027. It will include Guide 4, which addresses monitoring and remediation after deployment, and will incorporate revisions made during the development of the series.
IAASB noted that the guides are non-authoritative and do not introduce additional requirements.
They are intended to support the application of ISQM 1 and ISA 220 (Revised), while recognising differences in firms’ circumstances and technological capabilities.
