Singapore’s Accounting and Corporate Regulatory Authority (ACRA) has released Audit Practice Guidance No. 1 of 2026: Using Artificial Intelligence Responsibly.
The guidance sets out practical considerations for auditors and audit practices using AI in their work.
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In a statement, the regulator said: “Recognising that the extent and manner of AI adoption will vary across audit firms, the guidance focuses on practical considerations that auditors can apply in their day-to-day work.”
The document particularly focuses on areas such as integrity, professional judgement, accountability, transparency, and the confidentiality and security of data.
Using examples drawn from real-world incidents, the guidance examines how these issues can emerge during audit activities.
It also provides “reflective questions” to support auditors in assessing and managing their use of AI.
The ACRA said that, as AI becomes more widely incorporated into audit processes, knowing how to use the technology responsibly is as important as understanding its capabilities.
The authority acknowledged that AI adoption will differ between audit companies in both scale and application.
The guidance therefore focuses on considerations that auditors can apply in their routine work.
The ACRA has encouraged auditors and audit practices to consult the guidance, along with resources including its updated Skills Framework for Accountancy and the Institute of Singapore Chartered Accountants’ AI Fluency Programme.
These resources are intended to support the development of the knowledge, skills and governance required to use AI effectively and responsibly.
The ACRA added that the considerations in the guidance are not comprehensive. Auditors and audit practices should also assess any other issues relevant to the nature and circumstances of their audit work.
In August, the ACRA signed a memorandum of understanding with the Singapore Institute of Directors to establish a joint training initiative for company directors.
The initiative is aimed at enhancing corporate governance standards across the country’s business sector.
