Disclosing AI use
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Evidence and documentation Documenting AI-prepared work
The UK's Financial Reporting Council Says Investigation Subjects Must Be Ready to Identify, Explain and Justify Their Use of AI
In its Annual Enforcement Review of July 2026, the Financial Reporting Council says it anticipates extensive scrutiny of the use of AI in financial reporting, audit and actuarial work in the year ahead, and lists "use of AI" among the communication channels in its advice on firms' data retention policies.
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Ownership and vendors Deals and vendors
Australian Law Societies' Checklist Asks Law Practices Choosing a Third-Party AI Tool Who Owns the Output and Whether the Contract Covers Its Errors
A checklist dated February 2026, from the Queensland Law Society with other Australian law societies and the Law Institute of Victoria, is meant to help small and mid-tier firms select and adopt AI tools built by someone else, and asks, among other things, whether the contract includes indemnities for errors caused by the tool.
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Evidence and documentation Documenting AI-prepared work
Australia's Fair Work Commission Says People Who Use Generative AI to Help Prepare a Document for One of Its Cases Must Say So, Check It and State That They Did
A guidance note of the Fair Work Commission, published on August 24, 2026 and commencing on October 20, sets requirements for anyone who uses generative AI to help prepare a document to be lodged in one of its cases, and says the checking "must be done by a person."
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Professional ethics Judgment and competence
A Draft CCAB Statement Says Professional Accountants Cannot Abdicate Responsibility for Outputs Produced by Their Use of AI
In June 2026 the Consultative Committee of Accountancy Bodies published, for consultation, a draft statement to the accountancy profession on the ethical use of AI. It reminds accountants that they "cannot abdicate responsibility" for outputs produced by their use of AI tools and systems, and it discloses that AI tools were used in preparing the statement itself.
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The European Commission Says It Starts Enforcing AI Act Rules on August 2
On July 31, 2026, the European Commission said that from August 2 its AI Office and national authorities "will begin enforcing" the AI Act, as new transparency rules start to apply. The same release says the AI Omnibus postponed the application of the rules on high-risk AI systems to December 2, 2027.
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Professional ethics Judgment and competence
Australia's Ethics Standard Setter Says Members of the Australian Accounting Bodies Who Use AI Remain Responsible for the Outcomes
In a technical alert of October 31, 2025, Australia's Accounting Professional & Ethical Standards Board told professional accountants who are members of the Australian Accounting Bodies that when they use AI they "must continue to meet their ethical obligations" under the APES 110 Code of Ethics for Professional Accountants, and that they remain responsible for the outcomes.
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Regulators and standard setters Audit and assurance
The Auditor Owns the Outcome: Singapore's Accounting Regulator on Using AI Responsibly, October 2026
On October 2, 2026, Singapore's Accounting and Corporate Regulatory Authority issued practice guidance for auditors on using AI. "AI can assist, but the auditor owns the outcome," it says, and that responsibility "cannot be delegated to AI."
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Regulators and standard setters Tax
A Less Experienced Junior Colleague: Seven Professional Bodies on AI in UK Tax Work, January 2026
In January 2026 the seven professional bodies that jointly prepare Professional Conduct in Relation to Taxation, the principles and standards their members follow in tax work, said that AI output "should also be regarded as if it were prepared by a less experienced junior colleague and reviewed with appropriate scepticism," and that members remain ultimately responsible for their work "irrespective of the use of AI tools in its creation."
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It Is Not a Defense: Utah's 2025 Law on Generative AI in Consumer Transactions and Regulated Services
Utah's S.B. 226 of 2025 says it is not a defense to the violation of a statute its Division of Consumer Protection administers and enforces that generative AI "made the violative statement" or "undertook the violative act." Someone providing services in a regulated occupation must disclose generative AI in a "high-risk" interaction.
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Consequential Decisions: Colorado's 2024 Law on High-Risk Artificial Intelligence Systems, May 2024
In May 2024, Colorado's governor approved a law on high-risk AI systems used in consequential decisions, among them decisions on lending, insurance and legal services. As signed, the duty of reasonable care it places on those who develop and deploy such systems applies on and after February 1, 2026.
