iscoverAuditors are the quiet champions of trust, the guardians of integrity and the steady hands behind the scenes of our financial and business systems, writes Chris Freeland AM.
Why auditors are the guardians of trust in the age of AI
25 September 2025
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9 minute read
In this age of rapidly advancing technology and fast-moving artificial intelligence (AI), the role of the auditor is more vital than ever.
Every Auditor Proud Day - the last Thursday in September - we celebrate a profession that modestly underpins the trust on which our financial and business systems depend.
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And the vital role auditors play in upholding the integrity of our financial markets is only going to increase in the years to come.
AI is shaking up almost every industry, turbo charging efficiency and unlocking new insights.
But with all the innovation comes big questions and uncertainty – about ethics, accuracy and trust. These are questions that strike at the very heart of the audit profession.
Auditors in the AI era
At its core, auditing is about providing assurance and giving stakeholders confidence that what is reported in annual reports is not materially misstated, that risks are being managed, and systems are sound. Auditors are trained to probe, test and challenge. To look beyond what is presented and ask: Does this truly reflect reality?
Enter AI. Algorithms now process transactions, generate forecasts, and even write financial commentary. Companies are increasingly using AI to prepare their annual reports, manage compliance, and drive decision-making. This means auditors are not only reviewing financial outcomes but also assessing the algorithms and data pipelines that underpin those outcomes.
In other words, AI hasn’t replaced auditors, it’s expanded their influence and value.
The auditor’s evolving toolkit
Far from being sidelined, auditors are themselves harnessing the power of AI, not just for accuracy, but speed and efficiency too. Automated tools can scan through millions of transactions in seconds, flagging anomalies that might once have gone undetected.
AI tools allow auditors to move beyond sampling into testing entire populations of data. Natural language processing tools can analyse complex contracts in a fraction of the time it would take a human.
But technology is just a tool. What matters is how it’s used.
Auditors bring professional scepticism - the ability to question assumptions, challenge inconsistencies, and apply judgment in situations where rules alone cannot provide answers.
While an algorithm can detect patterns, it can’t understand context, intent, or integrity. That remains the role of the auditor.
AI bias and the human element
AI is only as good as the data it’s trained on, and we know that data often reflects the realities and imperfections of the real world.
If historical data contains bias, AI will reproduce it, even amplify it. Left unchecked, this could lead to distorted outcomes in lending, hiring, or even annual reporting.
This is where auditors step in as the ‘guardians of fairness’.
By interrogating how AI systems are designed, trained, and deployed, auditors help ensure that automated processes do not undermine trust. They can ask important questions, including Is the data reliable? Are the outputs consistent? Could unintended bias be shaping decisions?
The presence of auditors offers something no algorithm can deliver - reassurance that someone independent, trained, and accountable has evaluated the system through the lens of ethics, fairness, and integrity.
A new frontier of assurance
In fact, AI is accelerating the emergence of a new frontier for audit and assurance.
Beyond traditional financial statements, businesses are being asked to report on sustainability, climate risks and other non-financial metrics. Increasingly, these disclosures are analysed with AI tools.
This is where the auditor steps up, not only checking the numbers but reviewing the systems, controls, and algorithms behind them. No small task. This requires auditors to deepen their knowledge of technology, data science, and systems engineering, all while maintaining their core strength: independence, objectivity, professional scepticism, and judgment.
The auditor of 2025 looks different from the auditor of 2005 - not because the mission has changed, but because the tools and risks have evolved.
Why does this all matter?
The answer is simple: trust. Whether you’re an investor, regulator, employee or customer, your confidence in a company depends on reliable information. If AI is to play a central role in business, we need trusted professionals to ensure it’s being used responsibly.
Auditors provide that trust. They’re not anti-technology, they’re pro-accountability.
Their role is not to stop innovation but to ensure that innovation does not come at the cost of transparency or integrity.
So, this Auditor Proud Day, let’s celebrate the profession for not just what it has always done, but for what it is becoming.
Auditors are stepping into one of the most critical conversations of our time: how to harness AI while safeguarding fairness, accountability, and trust.
In an age of rapid technological change, auditors remind us that trust is not built by machines, but by people willing to ask hard questions, apply judgment and stand by their conclusions.
Chris Freeland AM is the chief executive of CPA Australia. Today (Thursday 25 September) is Auditor Proud Day.
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