SMSF auditors can use artificial intelligence (AI) to help check documents and communicate with clients, but should not see it as a replacement for their specific skills or allow its unchecked results to be distributed, the head of an audit firm has recommended.
Tactical Super director Jacob Kewley said there was a case for auditors to start using generative AI tools, such as ChatGPT, and while they could be used as a human substitute for client interaction, people will still want to engage with actual practitioners.
“The AI cannot replace you. The AI can only help you engage with your audience, respond to comments and keep the conversation human,” Kewley said during a webinar today presented by The Auditors Institute.
“Your clients are always going to crave the human connection you’ve offered them up to this point, but their expectations, even of a very small practitioner, are going to get higher.
“Your challenge is to make sure you don’t get left behind finding real and practical ways of implementing automation and AI while making sure your clients aren’t just dealing with an AI and they retain that connection with you or your staff.”
He gave the example of AI chatbots being a poor use of technology that while equipped with technical knowledge, lost the human connection clients had with their auditors over the phone or even via email.
“AI will need to augment, not replace, human interaction for this to be a success and done correctly can preserve your connection with clients as you get busier as opposed to you slowly losing the ability to connect as you become increasingly buried in mounting responsibilities,” he said.
He also warned practitioners to maintain the same control over AI-generated content as they would for anything created by a human in their business.
“If you are going to use generative AI, with anything that comes out of the model – and I really want to stress this – only use it as a first draft. Do not just generate and post,” he said.
“You need to do this because this is your voice. It’s augmenting you. You need to take responsibility for it. You need to know what it’s doing. You need to know that it’s correct.
“Have a think about how you can leverage generative AI in the brainstorming and creation of compelling, authentic content. You aren’t losing your voice to the machines. You’re finding ways of getting your voice out there and making sure you stay connected.”
