HK's accounting regulator to assess AI use by audit firms, Paul Chan says

Hong Kong’s accounting regulator will assess the emerging opportunities and potential risks associated with the use of AI by audit firms, Financial Secretary Paul Chan Mo-po said.

Guidance will be developed by the Accounting and Financial Reporting Council to enhance awareness and support AI deployment, Chan said at a forum on Monday.

The government embraces AI and is driving its advancement through a twin-engine strategy: developing AI as a core industry, and promoting AI as an enabler to upgrade and transform traditional sectors, he said.