Smart Moves: How Finance Chiefs Can Win with AI-Powered Audits

The finance world is changing fast. CFOs are under constant pressure. They deal with complex audit cycles all year round. Tighter controls, quicker close cycles, and massive data volumes are the new normal. Now, AI is shaking things up even more. It's adding complexity but also big opportunities. Smart finance leaders can use AI to improve accuracy and efficiency. They can also redefine accounting and finance operations. AI is everywhere, and audits are no exception. The PCAOB has noticed. They're focusing on audit quality. Both companies and auditors are using AI in audits. CFOs need to set up rules. These rules should deliver stronger evidence, tighter controls, and more efficient audits. AI can be a game-changer. It can give companies a strategic edge. History shows that early adopters shape the rules. Think about new revenue and lease accounting standards. Companies that jumped in early influenced the standards. AI is following the same path. Finance leaders who invest in AI now will shape its use. Those who wait risk playing catch-up. When both companies and auditors use AI, quality can suffer without shared standards. Early adoption is not just smart; it's necessary. Many professionals start by looking at AI tools. But the smarter move is to look inward. Identify areas in the close and reporting cycle that are high-effort and high-friction. Where are teams spending too much time on manual tasks? Where are errors happening? CFOs should be strategic. They should pick areas where AI can show clear value with little risk. Journal entry checks, duplicate invoice detection, and contract extraction are good starting points. Responsible AI use starts with fitting it to existing controls. Define what qualifies as sufficient evidence. Put governance in place.CFOs can take clear steps to set up AI guardrails. Conduct a post-audit review. Identify where AI or automation has touched the close or auditor requests. Publish an acceptable use policy. Create a register of models and use cases. Include owners, purposes, data sources, validation, and change control. AI is powerful, but it's only as reliable as the data and people behind it. When piloting AI, ensure the data feeding into it is clean and audit-ready. AI can streamline financial and audit efforts. For example, it can "read" off-balance-sheet data. Treat evidence as the product. Create repeatable evidence packs. Invest in role-based training. Consider leveraging third-party advisors. Join industry working groups. Share playbooks and lessons learned. Track and share metrics that show AI's impact. The time for "wait and see" is over. Companies need a clear AI adoption roadmap for finance and audit in 2026. Aim to launch pilots in the first half of the year. AI can speed up audits. When handled responsibly, it can transform audit season. It can make it a lever for quality, speed, and trust. It can also reshape accounting and finance operations. CFOs who act now will ease compliance pressure. They will also set the standard for innovation in audits.