Finance Leaders Are Backing AI-Powered Audits—But Are We Moving Too Fast?

CFOs in many industries are starting to talk with unusual optimism about the potential role of AI in auditing, and frankly, it has me wondering.

An article in Accounting Journal cites a new survey that suggests most CFOs are willing to pay higher fees in order to work with audit firms that incorporate cutting-edge technology, particularly artificial intelligence.

“It’s rare in the context of paying extra money that someone is actually motivated to incur additional expense, so I think that says a lot about the direction the audit world is headed.”

As you read the findings shared in the report on journalofaccountancy.org, you can feel it. com, which shows how strong this support has grown.

What’s interesting is how organic and natural conversations are happening around AI adoption right now.

Until recently, finance departments viewed AI as some kind of mysterious device lurking in the corner.

The question now is: Will audits be accelerated? Will you capture things that humans can’t? What will it take for us to stop sweeping the mountain of eternal crisis data under the rug?

One story about how AI can tackle unstructured financial data is already in development and suggests that companies are pushing the boundaries again.

But, of course, it’s not everything under the sun. The same survey shows that leaders are concerned about cybersecurity and data privacy more than 80% of the time.

And I don’t blame them. It’s almost like giving your house keys to a stranger because they said they were good at home security.

Because what could go wrong with that? Meanwhile, the momentum doesn’t stop.

Companies are in a frantic race to adopt the technology — some carefully, others with the kind of enthusiasm that makes you wonder if they’ve really read the manual.

A recent report on AI trends in finance highlights how quickly expectations are changing across the wider world of financial services.

I’m torn personally. On the one hand, AI can help auditors dig deeper and faster, perhaps even spotting fraud or discrepancies long before a human does.

On the other hand, I feel somewhat uncomfortable with the “black box” nature of some AI systems.

And who should you blame if something goes wrong – the auditor, the developer, or the algorithm?

There is already evidence of how AI tools are being misused, such as deepfake financial content that was recently circulated in India, creating confusion among investors.

Talking to auditors is a completely different experience these days too. Many say they’re learning as they go, figuring out how AI fits into their workflow without relying too much on it.

Some even believe that AI could one day do the “boring parts” of the job — but they are still wary of letting it reach anywhere near professional judgment. And perhaps this is the ideal point: AI as a super-powerful assistant, not the decision-maker.

Ultimately, this moment feels like an intersection. Companies that are open to using AI appear to be well-positioned to capture more business, since customers are not exactly shy about demanding efficiency and forward-looking approaches. But charging without guardrails can also backfire.

If there’s one big takeaway, it’s this: Financial audits have already been transformed by AI, whether we’re fully prepared for it or not.

In fact, the most interesting part of the whole story may end up being how companies find a way to balance innovation with old-fashioned trust.