Join us for an engaging session featuring Danielle Supkis Cheek, SVP AI, Analytics and Assurance, a renowned thought leader with extensive expertise in AI-driven audit solutions and data analytics. She will provide expert insights into the transformative opportunities and potential risks of AI-powered audit analytics.

What to Expect:

• ✅ Insights into the transformative impact of AI-powered data analytics on auditing.
• ✅ A demonstration of IDEA 13 and AiDA, showcasing real-world applications.
• ✅ Expert guidance on implementation strategies, including prompting and training requirements.

The webinar will also introduce the latest generation of the data analytics software IDEA 13, presenting short examples of AI driven audit analysis. Additionally, it will address the question of what is needed to implement the software, including prompting and training requirements. Secure your spot today and stay ahead in the world of AI-driven audit analytics.

Organisations across the globe are increasingly turning to AI to improve their financial processes and operations. Recent research from IDC found that 96 percent of organisations currently use, or plan to use, AI in their financial processes. There are several reasons why. Forty-eight percent of companies find AI helps them spend less time on menial tasks; 33 percent are investing in Gen AI assistants to improve employee productivity; 29 percent are relying on AI to handle manual processes that must be reconciled with technology systems; and 26 percent are turning to AI because they need help handling their workloads. 

This increasing use of AI in business has significant implications for firms. It will change how they conduct their audits and the technologies they use in the audit process. A paper from CPA Canada and the AICPA called “The Data-Driven Audit: How Automation and AI are Changing the Audit and the Role of the Auditor” identified several potential opportunities client use of AI tools creates for firms. These include: 

• Assurance reporting on a client’s AI tool 
• Assurance reporting on the client’s AI tool controls and process  
• Assurance reporting on the client’s appropriate use of AI 
• Assurance reporting on AI-enabled robotic process automation applications 

As clients increase the use of AI in their financial operations, firms will need to hire and train staff who understand how AI systems function, change their audit approach to account for AI-driven financial systems and invest in their own AI systems to enhance the efficiency and accuracy of their work. 

The need for AI skills in auditing processes 

With more clients deploying AI in their financial processes, accounting firms will need to understand how those AI systems work. This will include figuring out how AI algorithms function, where the AI is pulling data from, how the AI makes its decisions and how accurate the final output is, according to the CPA Canada/AICPA paper. 

Critical thinking, analytical skills, professional skepticism and sound judgement – the traditional core skills of all excellent auditors – will continue to be important in auditing AI systems.  

But audit teams examining AI systems and controls should also have a range of AI-specific knowledge, including: 

• Machine learning, a subset of AI that enables systems to learn patterns and make decisions without being explicitly programmed by analysing and adapting to data 
• Understanding how AI algorithms and the source underlying the system function 
• The risks presented by AI, such as inaccurate output, potential bias and compliance with privacy laws 

Firms have a few options to weave these skills into their audit teams. They can hire auditors who already possess some knowledge of AI. They can hire or collaborate with technology specialists to assist in auditing AI processes or invest in training their auditors in AI, machine learning and data science.  

A variety of organisations, including the Institute of Internal Auditors and ISACA, an international professional association focused on IT governance, offer courses in auditing AI. And professional bodies, like the AICPA, offer resources on better understanding AI and its capabilities, AI governance and AI risk management.  

Adapting audit approaches for AI systems 

As firms begin auditing AI systems, they should update their methodologies to account for new processes. Risk assessments may evolve to incorporate AI-specific risks, such as a lack of transparency and bias.  

AI audits will also need to ensure systems comply with existing and emerging AI regulations, such as the EU’s Artificial Intelligence Act. Firms will also need to address jurisdictional differences in AI-related regulations for clients with operations across multiple countries. 

Enhancing audit efficiency with AI tools 

Firms that don’t invest in their own AI systems may find it difficult to attract business. BDO USA’s “2024 Audit Innovation Survey” polled 200 finance leaders about their use of advanced technologies in audit. They found that 64 percent said they look for a firm that uses AI before engaging with an auditor. By investing in AI skills and tools, firms can harness AI’s potential to meet evolving client demands and enhance their services while improving audit quality. 

IDC’s research discovered there are several benefits audit firms identified in using AI tools. Forty-one percent of survey respondents said AI increased accuracy because it can identify anomalies and patterns that may be missed by manual review. Over one-third of respondents said AI improved business efficiencies by processing large volumes of data quickly. And more than one quarter said AI reduces overall costs by automating routine tasks.  

Here are a few examples of how a Gen AI tool purpose-built for auditors, like Caseware AiDA, an AI-powered digital assistant, can free up time for audit teams: 

• It can examine lengthy PDF files or other documents and quickly create accurate summaries with links and citations, saving auditors from having to read through hundreds of pages 
• AI tools trained on audit-specific information can provide context-aware answers to questions related to a document, such as lease agreements or inventory records 
• AI trained on audit standards can ensure a firm’s work meets the highest professional benchmarks 

Ensuring privacy and compliance in the use of AI tools 

Any AI systems accounting firms use should comply with professional standards and protect client privacy. General-purpose Gen AI tools don’t meet these requirements. They save the queries entered into them and use these queries to train the AI’s language models. This means that information can potentially be accessed by anyone using the same Gen AI tool because the tool retains every query and can include that information in its subsequent responses. 

Firms should instead rely on AI tools purpose-built for auditors and accountants. These tools should retain no user prompts and feed no information back into a large language model. This allows firms to maintain the highest standards of data security and client privacy.  

As AI continues to revolutionise financial processes, accounting firms must embrace the opportunities and challenges it presents. Firms can remain competitive in a rapidly evolving landscape by equipping their teams with the necessary AI-specific skills, updating methodologies to account for AI-driven systems, and investing in cutting-edge AI tools. The integration of AI enhances efficiency and allows auditors to focus on high-value tasks, ultimately improving audit quality and client satisfaction. Firms that proactively adapt to the AI era will be well-positioned to deliver innovative and reliable assurance services, ensuring their relevance in an increasingly data-driven world. 

Request a demo today to learn more about how AI solutions like Caseware AiDA can streamline workflows, allowing your team to focus on the most critical areas of each engagement. 

Technology change is a constant in today’s fast-evolving audit and accounting landscape and navigating it successfully can be challenging. At a Caseware event, a panel of customers from leading accounting firms shared their experiences and insights on managing technological transformation within their firms.

The panelists included: Tricia Katebini, Partner, Audit and Assurance, GRF CPAs & Advisors; Matt Sutorius, Shareholder, Clark Nuber PS; and Mike Loritz, Shareholder, CBIZ.

The panelists shared how their firms managed all aspects of the transformation process, offering practical insights and recommendations from their experiences. Their discussion included targeting decision-makers, being sensitive to company culture and implementing training and support. Here’s what the panelists had to say.

Bringing change to decision-makers and across the firm

The panel discussed the necessity of bringing change not only to top decision-makers but to the entire firm. Loritz addressed the need for educating the whole practice about why a specific change is necessary. Rarely are all members of a practice on the same page. 

“You’ll have the full spectrum. You’ll have the individuals [who] embrace change. You don’t even have to tell them why. But you have individuals on the other end of that spectrum who say, ‘What’s the problem? Why do we need to do something?’”

Katebini echoed this sentiment and emphasised the crucial role of communication across the firm. Simply giving a mandatory directive can fail, as team members who need help understanding the reasoning behind the solution might not use it. They can see adopting a new solution as burdensome on top of their already hefty workloads. So, communicating the future benefits of the change is not just important; it’s critical. 

Sutorius said a solid strategy is to start with a small group of partners who are more receptive to the idea and work up from there. “Knowing when to bring that to the full group when you’ve done the work is important.”

Loritz’s organisation has a tech champ network – a group of individuals throughout the offices who act as the technology testing team. These individuals are early adopters of new technologies and are responsible for testing and providing feedback on new software or systems. The team also drives the technology and innovation culture within the firm through a boots-on-the-ground approach and being champions of change.

The importance of culture in driving change

The panel talked at length about how a practice’s culture can support or impede change. Practices driving change must be aware of its impact on culture. 

“We have to make sure that the changes we are implementing aren’t going to split apart the culture that we have created within the firm,” Katebini noted.

Sutorius noted the need for alignment with incentives. If firms tie bonuses to productivity and team members have to deal with a massive software change, there will be resistance. “Structuring their bonuses or their promotions around what we want them to do is important.”

Implementation of training and support

The panel discussed the methodology and philosophy behind training and implementation, emphasising a deliberate approach to training rollout. “Give yourselves a long runway,” Katebini said. “Be able to understand it’s not an overnight switch. It’s a long process, a long journey of understanding how the system works, what happens in the background and how to make the updates.”

Sutorius said it’s important to be deliberate about who gets trained when. Internal team members trained early on the technology, who can then train everyone else in the organisation, might work better than hiring an outside party to do everything. 

Loritz noted the importance of starting with early adopters who can offer firsthand accounts of their experience. “If they’ve bought in, now we take the benefits to our board or executive committee: here’s why the ROI is positive. That sells them.” 

Monitoring and feedback

How to assess an implementation’s success was also a topic of discussion. Aside from human feedback, there’s also great value in looking at the data.

Katebini said data can provide a significant amount of information. “We recently implemented a new technology, and we could easily take the engagements tied to that technology and calculate the time our firm saved. So, we can take some of that time saving in our budget and foster and develop that relationship with the client, which sparks additional revenue.”

Sutorius followed this point by emphasising the importance of authentic metrics, especially when selling value to clients. “You have to be genuine in those things.”

As for feedback and implementation, Sutorius discussed the importance of setting goals for the implementation of new software, to get it up and running. That can include making use of the new solution mandatory.

The insights shared by the panelists highlight the multifaceted approach required to successfully navigate technological change in the audit and accounting industry. By engaging decision-makers, fostering a supportive culture, implementing thorough training programs and continuously monitoring progress, firms can effectively manage transformation and drive future success. The experiences of the panelists underscored the importance of clear communication, strategic planning and leveraging data to demonstrate the value of new technologies. As firms continue to adapt, these strategies will be crucial in maintaining a competitive edge and achieving long-term growth.

Drive your technology change with Caseware

Caseware’s cloud-enabled audit, assurance and financial reporting solutions help firms transform their engagements and work smarter. The Caseware platform, for example, offers a consistent user interface across all audit products combining planning, analytics, documentation and reporting into a single solution. With seamless integration of third-party applications, it enables streamlined, automated workflows and real-time collaboration for enhanced efficiency.

The platform features top-tier security, extensive data ingestion capabilities, embedded AI and a developer toolkit for easy configuration and customisation. It also offers seamless connectivity to third-party applications and internal systems. The combination of the Caseware platform, Caseware’s robust technology stack and comprehensive methodologies results in industry-leading solutions that improve efficiency, enhance accuracy and deliver an exceptional client experience.

Learn how Caseware can transform your engagements by scheduling a demo today. 

Join Matthew Thomas for an exclusive walkthrough of the Caseware Cloud Connector, where he’ll demonstrate the powerful capabilities of this tool.

Join George Pinto for an engaging session to refresh and enhance your Caseware SQM skills. Stay ahead by exploring the latest features and updates, ensuring you’re making the most of this powerful tool.

Embracing the power of a digital assistant can help you to focus on what matters most. Watch this webinar to learn how Caseware AiDA transforms engagements with AI-powered efficiency and insight.

What you’ll learn:
✅ Harness the ‘Power of the Prompt’
✅ Automate document summaries and context-aware insights
✅ Understand industry and engagement-related considerations
✅ Get instant Caseware FAQ guidance
✅ Empower your team with a tool designed specifically for auditors and accountants
✅ Seamlessly integrate AiDA into your existing Caseware cloud products.

Enter your details below to access the video.

Before diving into AI and digital tools, it’s essential to master the fundamentals—especially data analytics. If you’re struggling how to integrate it effectively into your processes, join us to learn where to start and how to get it right.

What you’ll learn:
✅ Why data analytics is essential for auditors
✅ A comparison of IDEA and other tools to find the best fit for your organisation
✅ Strategies for balancing specialists vs generalists in your team
✅ Key skills every auditor needs to succeed in data analytics
✅ Tips for effective training and avoiding common pitfalls.

As we progress through 2025, the field of audit is witnessing transformative advancements driven by technology, regulatory updates and evolving business requirements. This article delves into the key trends shaping the audit landscape and examines how they can provide value to auditors and their organisations in an ever-changing environment. 

Key predictions and trends for 2025 

AI and automation are redefining auditing workflows 

Technologies such as AI and automation are significantly improving the efficiency and precision of auditing processes. By enabling auditors to swiftly analyse vast datasets and detect anomalies, these innovations help firms allocate resources more effectively. Recent research shows that 72% of audit leaders believe AI enhances audit quality by minimising human errors and enabling a stronger focus on valuable insights. 

Real-time auditing becomes a priority 

Real-time audit facilitates continuous transaction monitoring and compliance, offering businesses instant insights into their operations. This approach allows leaders to proactively address risks, thereby strengthening governance and decision-making processes. Companies adopting real-time auditing have seen a reduction in compliance violations and faster identification of irregularities. 

ESG audit emerges as a priority 

As stakeholders increasingly demand accountability in Environmental, Social and Governance (ESG) metrics, auditors are taking on a critical role in verifying these reports. With more than 80% of global companies incorporating sustainability metrics into their annual disclosures, ESG reporting has become a strategic focus. Auditors must adapt to evaluate these effectively and provide insights that support compliance and long-term value creation. 

Data security and compliance take centre stage 

As digital transformation accelerates, cybersecurity is a growing concern. Auditors must assess and bolster systems to safeguard against breaches. Firms that implement strong cybersecurity measures report a reduction in financial losses related to cyber incidents, underscoring the need for advanced security audits.  

Essential tools for auditors in 2025 

To stay aligned with these trends and maximise their impact, auditors should prioritise tools with the following features: 

Advanced AI and machine learning capabilities 

Sophisticated AI algorithms can analyse large, complex datasets, identify anomalies and predict risks. For decision-makers, this means faster identification of strategic opportunities and threats. For example, Caseware’s IDEA tool uses AI-powered analytics to provide real-time data processing and predictive insights.  Additionally, Caseware AiDA, an AI-powered digital assistant, automates document summaries and delivers context-aware insights, enabling accounting and audit professionals to focus on higher-value tasks more efficiently.

Seamless integration with enterprise systems 

The most effective tools integrate smoothly with existing ERP and financial systems, ensuring uninterrupted workflows and real-time data synchronisation. Tools with robust API capabilities are particularly beneficial. 

Strong data security and compliance features 

With cybersecurity being a top priority, tools should include encryption, role-based access controls and continuous compliance monitoring to minimise regulatory and financial risks. 

Customisable dashboards and reporting 

Customisable dashboards allow auditors to create tailored reports that address stakeholders’ specific needs. Clearer visualisations of financial and operational metrics enable better-informed strategies. 

Capabilities for ESG and sustainability metrics 

Tools should enable the measurement, monitoring and reporting of ESG factors, which are vital for meeting global sustainability standards and demonstrating accountability to investors. 

User-friendly interfaces with training support 

Intuitive designs and robust training resources ensure quick adoption, allowing teams to fully leverage tools without steep learning curves. 

Blockchain compatibility 

For organisations utilising blockchain, tools must support seamless transaction verification and smart contract audits, enhancing data integrity while saving time and reducing operational risks. 

Integrating advanced technologies will redefine the audit profession, making these features indispensable. Similarly, Gartner emphasises that real-time audit capabilities improve governance and reduce risk by up to 60%. 

In 2025, the audit profession stands out for its ability to embrace innovative technologies and proactively address emerging challenges. For executives, managers and decision-makers, adopting tools with the right capabilities ensures compliance and supports strategic growth. By increasing efficiency, enhancing transparency and addressing critical issues like ESG compliance and cybersecurity, auditors can position their organisations as industry leaders. 

By harnessing these tools and staying ahead of key trends, auditors can transform their roles from compliance specialists to strategic advisers, delivering significant value to their organisations and stakeholders. 

The shrinking talent pool in the audit and accounting field has been a pressing issue for several years. The retirements of senior professionals and the trend of younger individuals choosing other careers have led to a noticeable and urgent gap between supply and demand in the field.

The need for a new generation of accounting professionals also comes as there’s a shift in what’s expected of them. More and more accountants are required to have, at a minimum, a basic understanding of data analytics and emerging accounting technologies. In a stricter regulatory environment, auditors and accountants serve as strategic partners for their clients, who rely heavily on their expertise for compliance.

Firms can remain competitive by recruiting and retaining top talent and they can do this by providing the kind of work environment young professionals desire. Technology is critical in this process: The latest innovations make it easier to source information and work collaboratively on engagements. Technology also supports hybrid and decentralised working environments.

Why auditing and accounting face talent challenges

Caseware’s 2024 State of Accounting Firms Trends Report found 88 percent of firms believe talent acquisition and retention is a major concern. Fewer people are entering the profession at a time when many senior professionals are moving out of the workforce.

The lack of available talent comes as the demand for more sophisticated audit and accounting solutions is on the upswing. Clients expect their firms to deliver deeper insights that reflect a comprehensive understanding of the market.

Audit professionals feel the crunch as well. There’s increasing regulatory pressure from government and industry authorities, and companies rely on auditors to keep them in good standing.

What’s driving the talent shortage is complicated. Among the many factors are a lack of interest in the field, work-life balance concerns and competition from other industries. There are ways that firms can remain competitive, though, starting with technology that supports what new hires want most: flexibility and the ability to learn and use advanced skills.

The skills modern auditors and accountants require

Accountants and auditors must understand what’s behind the numbers and make informed, strategic decisions. They also need comprehensive insight into the regulatory environment to best serve their clients. 

Today’s accounting and audit environment draws on different disciplines — data analysis, cybersecurity and AI technology — so your team has to be willing to learn new skills and take on new challenges. 

At the same time, firms looking to hire internal auditors and accountants should also look for vital soft skills. These involve how a person interacts with others at the firm and how they approach projects. 

From the firm’s perspective, a team member’s ability to communicate in client-facing and internal discussions is critical; the most brilliant financial analysis would be useless if nobody else could understand it.

There’s no doubt that a high level of talent exists among the ranks of up-and-coming accounting professionals. These individuals possess the skills and adaptability needed to thrive in the modern accounting and audit environment. The question then becomes how your firm can attract the top candidates in the field. Part of the answer is adopting new technology. 

The role of technology in attracting and retaining top talent

So, what role does technology play? Let’s start with one example: your engagement solution. This technology can make the experience of working at your firm more efficient, reducing laborious tasks and lowering the risk of errors. It will also support your team’s desire to use its analytical skills when working on client files.

Modern engagement solution and other types of advanced technology can help you attract and retain top talent, so let’s review a few essential features your tech stack should have.

Embedded AI

AI is poised to revolutionise accounting and audit. The latest technologies incorporate AI features that allow your team to work more efficiently. An engagement or practice management solution with embedded AI can make numerous tasks easier. 

One example is an embedded digital assistant powered by AI, which can reduce time spent on essential but tedious tasks. A digital assistant can summarise lengthy PDFs, answer quick how-to questions and provide on-the-spot information so your team won’t waste time searching for it. An AI assistant built to meet the needs of accounting professionals can offer even more value, providing context-aware responses to profession-specific inquiries, extracting key information from financial documents or accessing standards. These profession-specific tools can also be built to meet the strong privacy and confidentiality requirements of accountants. For instance, an AI assistant could be designed not to store prompts or feed information back into an AI’s large language model to protect sensitive client data.

Automation and integration capabilities

A partner to AI is automation, removing repetitive and time-consuming tasks from your team’s workload. Financial statements can be automatically populated when auditors import the trial balance. Data is entered once and flows through into all relevant fields. Materiality thresholds can be determined without having to perform manual calculations. Anomalies can be identified and flagged automatically. This automation saves your team time and reduces the risk of human error by reducing the amount of manual data entry.

The top accounting and audit professionals might have a range of skills, but they don’t want to waste time on tedious tasks. Your technology should make it as easy as possible for them to do their work. The right solution should have one consistent interface for all audit processes from planning to documentation and reporting. This makes it easier for your team to access files and collaborate. Analytics, insights and dashboards should all be embedded into the engagement workflow, making it simpler for auditors to identify, understand and respond to risk.

Cloud-based solutions for work-from-anywhere flexibility

Flexible work arrangements have become an important requirement for modern-day professionals. Employees expect to be able to work remotely, at least some of the time and supporting flexible work makes it easier to attract skilled talent. Modern accounting technology and engagement solution must support the work-from-anywhere philosophy. Cloud-based solutions allow for complete access regardless of location, ticking that box for new talent looking for an ideal work environment.
Cloud-based solutions allow teams to collaborate more efficiently. There’s no need to check documents out, or wait for a colleague to check a file back in. Multiple team members can work on documents together in real time. Collaboration with clients is also simpler in the cloud. Firms can directly ingest client data into their engagement solution and automatically map it into financial statements and notes disclosures, resulting in less manual data entry and manipulation.

Built-in intelligence and guided methodologies that enable efficient work

Advanced technology works with you to provide guidance throughout the audit process. Your solution should use client data to prompt your team with engagement-specific questions, customising the audit plan based on the risk profile and the client’s industry. By reducing manual work the audit process is streamlined while retaining high levels of accuracy. This kind of advanced technology keeps your team in the driver’s seat but reduces the amount of informational clutter it needs to sort through.

Remain competitive with Caseware

Adopting advanced audit and accounting technology can attract top talent to your firm. You can also future-proof your firm by using tools that evolve with your changing needs. Caseware, working with its customers, partners and developers around the globe, has built the Caseware Platform, a comprehensive, cloud-based solution that transforms the audit experience through advanced methodologies, industry-specific content and cutting-edge technology.

“You want the young crowd to come join your firm and they want to see that you have new technology. This is a big transition I see Caseware bringing into the profession,” said Amber Mehta, a Partner with KNAV CPA LLP, a global accounting firm with offices in seven countries.

Request a demo today to see how Caseware can support the growth and viability of your practice.

Gen AI tools, like Caseware’s AI digital assistant, can make accountants and auditors more efficient by reducing the amount of mundane work they need to perform. But the quality of an AI’s response depends upon the quality of the question. If you want an accurate, useful response, you need to craft your AI prompts carefully.  

A guide for creating effective prompts: The STAR method  

Following a prompt writing methodology is an important step in generating better AI responses. A writing methodology is a structured approach used to craft clear, precise prompts. You set the context for your query, define the task the AI is to perform, specify your desired output format and once you receive a response you refine your prompt to get the exact output you want. 

One popular prompt engineering approach is the STAR Methodology. STAR stands for:  

• Situation – Set the context for your prompt by describing the accounting scenario you want the AI to address. For example, you could tell the AI your precise role, your goal and the accounting standards you need to follow. 
• Task – Clearly define what you want the AI to do for you.  
• Appearance – Tell the AI what you want the output to look like. You can ask for a specific tone of voice, response length or format, such as a table or chart. 
• Refine – Refine your initial prompt as many times as you need to get a response that meets your exact needs. 

Situation 

Situational context helps minimise the risk of an incorrect response by reducing ambiguity. Context gives your large language model a frame of reference which allows it to produce more relevant answers. 

Task 

Task is the area most AI users will be familiar with. It’s what you’re asking the AI to do. The more details you can provide, the better the response will be. You can also specify what knowledge bases you would like the AI to use during the task phase.  

A new gen AI approach, called Retrieval Augmented Generation (RAG) pairs AI with reliable, high-quality data sources, so the AI can pull from curated, authoritative knowledge bases, rather than just relying on its large language model for information. Your firm’s RAG could include your best methodology documents and your gold-standard memos, giving you a firm-specific model that outputs a consistent look and feel and gives you a competitive differentiator. 

Appearance 

When building your prompt, you need to specify what appearance you’d like the AI’s response to take. Some questions to ask yourself could include: 

• Do you need it to be a particular word count?  
• Do you want British English or U.S. English? 
• Do you want a checklist? 
• Do you want a spreadsheet table?  
• Do you want the response in a particular order, so it matches perfectly to a long-form checklist? 

The more you control your output in specific terms, the more efficiency you’ll achieve. 

Knowing where your AI’s answers come from is essential for fact-checking. Despite technology improvements, manual verification of facts is necessary to ensure you’re presenting reliable information.  

There are several ways to find this out. First, you can ask your AI for citations. In Caseware AiDA, if you’re asking questions based on a PDF, you’ll get clickable footnote references that link directly to the highlighted source within the document. This feature makes fact-checking much faster and more accurate.  

Another way to check your sources is to tell your AI which authoritative body of knowledge you want it to use and to provide links for where things are. This way, you can click through and double-check your information easily.  

You can also boost the transparency of your AI’s responses through “chain-of-thought reasoning.” This means asking your AI to document each step it takes to generate a response. You could ask the AI a question like you normally would and then add the instruction, “Explain your reasoning step by step.” Breaking down a complex problem into a series of intermediate steps allows the AI to reason through each step sequentially.    

Refine 

Refining an AI’s response involves reviewing it for accuracy and clarity and then editing as necessary. This could include shortening or lengthening a response, as well as copy editing.  

Some key points to consider when refining your response include: 

• Clarity – Make sure the AI’s response is phrased in straightforward, unambiguous language. Jargon or complex terms could confuse your audience.  
• Relevance to the task – Your refined prompt should directly relate to your task and its objectives. Remove any instructions that don’t contribute to your goal.  
• Completeness and accuracy – When you refine your prompt, be sure it’s complete and accurate. The refined prompt should also include any necessary caveats or considerations. 
• Iterative Refinement – You’ll seldom get the precise response you want on your first prompt. You can start with a draft prompt and then review and revise it multiple times to enhance it. Seeking colleague feedback can help you identify any areas in the AI response that might be lacking. 

Build a prompt library for consistency and quality 

Some prompts can be long and contain tasks that can be applied to other accounting-related prompts. This is why a prompt library with all your template prompts can be an incredibly useful resource for your team. By housing expert-crafted prompts in one place, your staff can use high-quality prompts to tackle specific tasks consistently. For instance, you might have your firm’s asset purchase agreement expert draft a detailed prompt for generating agreement analyses, saving time and ensuring consistency. 

Prompt libraries are particularly beneficial for junior staff, who can use them to analyse complex documents more accurately and avoid common errors, like missing critical contract clauses.  

Conclusion 

By adopting these prompt writing practices, firms can use AI more effectively, improving efficiency and accuracy. Keep in mind that AI is a complement to accountants and not a replacement. Ethics codes require accountants to take responsibility for the output of an AI. Always apply your professional skepticism to an AI’s responses to ensure you’re getting an accurate result.