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Episode 2: Identifying and controlling the risks of Generative AI for CPAs

Cathy Cobey, FCPA, from EY discusses the impact that generative artificial intelligence (Generative AI) will have on the accounting profession and evaluates how CPAs should identify and mitigate the risks of adopting this technology.

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We are continuing our conversation on Generative AI, often referred to as Gen AI, with Cathy Cobey, FCPA, global responsible AI co-lead at EY, to explore the potential risks that come with introducing this new technology to the accounting profession. Cobey brings extensive experience working on the ethics and control implications of AI and other autonomous systems. She emphasizes the importance of understanding the capabilities and limitations of Gen AI and how it falls to the CPA to ensure the origin, accuracy and reliability of the data and information, while also advocating for robust governance and transparency surrounding the use of this technology.

Episode 2 also touches on the evolving regulatory standards regarding AI in auditing and financial statement preparation. Cobey concludes with a realistic yet optimistic outlook on AI's role in accounting, stressing the importance of trust and control mechanisms in adopting and leveraging this technology effectively. Listen now to learn some valuable insights on navigating the new dynamics of AI as a CPA.

 

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Disclaimer: The views and opinions expressed in this podcast are those of the guest and do not necessarily reflect those of CPA Canada.

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