6 days ago
- Business
- Business Recorder
ACCA & EY offer new guidance to boost confidence in AI
KARACHI: ACCA (the Association of Chartered Certified Accountants) and global professional services firm EY have released a joint policy paper, AI Assessments: Enhancing Confidence in AI, offering new guidance to help businesses evaluate and trust their Artificial Intelligence (AI) systems.
As AI adoption accelerates globally, the paper highlights the growing importance of AI assessments — evaluations that span governance, compliance, and performance - to ensure systems are well-governed, legally compliant, and aligned with user expectations. These assessments are essential for businesses aiming to unlock AI's potential for innovation, productivity, and sustainable growth.
The report identifies three key types of AI assessments: 'Governance assessments' to evaluate oversight structures; 'Conformity assessments' to ensure legal and regulatory compliance; and 'Performance assessments' to measure system effectiveness against defined criteria.
It also addresses the current challenges in this emerging field, such as inconsistent methodologies and lack of skilled providers, and offers actionable solutions — like clearer standards, better-defined objectives, and professional accountability.
The paper encourages business leaders to leverage both voluntary and mandated assessments to strengthen corporate governance and stakeholder trust. Policymakers are urged to support standardized, internationally aligned frameworks and invest in market capacity for high-quality evaluations.
Helen Brand, Chief Executive of ACCA, emphasized the need to build trust in AI, to serve the public interest, while EY's Marie-Laure Delarue highlighted the critical role of rigorous assessments in unlocking AI's full potential and navigating its risks.
Copyright Business Recorder, 2025
