INTHEBLACK April 2026 - Magazine - Page 32
Many still rely on free or off-the-shelf solutions
such as ChatGPT and Microsoft Copilot, which
highlights the considerable potential to adopt
AI tools more strategically.
Audit and assurance is one area being
transformed by AI. Tiffany Tan FCPA, audit
and assurance lead at CPA Australia, believes
the technology is quickly becoming integral
to contemporary audit practices, reshaping
methodologies and expectations. “AI is redefining
audit and assurance by enhancing quality, efficiency
and insight,” she says.
“For the audit profession, embracing AI is not
optional. It is essential for staying competitive and
meeting stakeholder expectations in an increasingly
data-driven environment.”
F E AT U R E
2. FROM DOING TO INTERPRETING
AI, especially agentic task-performing systems,
will automate many routine accounting activities,
says Professor Michael Davern FCPA, chair of
accounting and business information systems
at The University of Melbourne and a member of
CPA Australia’s Reporting and Assurance Centre
of Excellence. As a result, the profession’s centre of
gravity will shift from execution to critical thinking,
narrative building and insight generation.
“AI is going to automate so much for us, so that’s
why we need to be broader in our storytelling about
BUILD FUTURE-READY
FINANCE CAPABILITIES
Mitchell Pham ONZM FCPA, director
of CodeHQ in New Zealand and Vietnam,
outlines key steps to thrive in the digital world.
• Embrace automation: Identify and automate
the most repetitive processes first, such as
accounts payable and expense management.
• Invest in AI literacy: Seek out training or
certifications relevant to a given finance role.
• Upgrade to cloud ERP: If not already in place,
advocate for real-time data infrastructure.
• Prioritise cybersecurity: Involve finance staff in
regular security training and incident planning.
• Focus on strategic skills: Develop data
analysis and communication skills to support
decision-making throughout the business.
32 INTHEBLACK APRIL 2026 SPECIAL EDITION
