INTHEBLACK February / March 2026 - Magazine - Page 44
F E AT U R E
SIMPLE RULES FOR RESPONSIBLE AI USE
The Australian Government Department of Industry,
Science and Resources Guidance for AI adoption
outlines six key steps for organisations starting
their AI journey or using AI in low-risk settings.
1. Decide who is accountable: Assign a senior leader
to oversee AI use and create an AI policy.
2. Understand impacts and plan accordingly:
Conduct stakeholder impact assessments and
create contestability channels.
3. Measure and manage risks: Implement a
risk-screening process to identify and address
potential issues.
4. Share essential information: Develop and maintain
an AI register and ensure transparent disclosure of
AI use.
5. Test and monitor: Test systems before deployment,
set up monitoring processes to detect changes in
performance and behaviour, and extend existing
data governance and cybersecurity practices to
AI systems.
6. Maintain human control: Ensure appropriate human
oversight based on the system’s level of autonomy
and risk, and incorporate human override points.
Further information and resources are available on
the department’s website.
44 INTHEBLACK February/March 2026
Collin Jin FCPA, Deloitte Asia Pacific’s
audit and assurance digital enablement and
AI leader in Shanghai, and president of
CPA Australia’s East and Central China
Committee, says that “if the goal is scalable,
export-ready governance that still lets
startups move fast, Singapore’s risk-based
disclosure toolkit and South Korea’s tiered
statute are the models most copied inside
APAC right now”.
Japan, India, Hong Kong, Thailand and
Vietnam are taking similar paths to Australia,
Jin says, relying on non-binding principles and
existing laws. Other jurisdictions, including
Mainland China and South Korea, are
introducing AI-specific regulations.
Mainland China, where the CPA Australia
report shows AI is more widely used across
business operations, has established a multilayered regulatory framework that combines
laws, administrative measures and ethical
guidelines. “These rules emphasise state
oversight, data security and social stability,
while also promoting innovation,” Jin explains.
“While China has been leading in many
areas of AI innovation and adoption, it is
interesting to see China currently tends
to take a tight and product-level licensing
model in governance, which is undeniably
‘leading’ in stringency.”
THE ACCOUNTANT’S ROLE
As AI use expands and emerging
technologies such as quantum computing
and the metaverse develop, accounting
professionals are becoming central to
effective governance.
“Accountants are no longer just ‘guardians
of the books’,” says Jin. “They are becoming
the architects of the control environment
in which AI systems are allowed
to operate.”
This evolving role includes translating
AI risk registers into financial terms that
boards can understand, he says, while
also embedding AI within established
