When AI reshapes the auditing and finance industry

Inevitable trend or "double-edged sword"?

Discussing at the seminar "Auditing in the new era - Improving auditing capacity with AI" organized by the Association of Chartered Certified Accountants (ACCA) on October 13 in Hanoi , Mr. Dam Xuan Lam - Deputy General Director of KPMG Vietnam emphasized that AI is deeply penetrating into all industries, including specific fields such as auditing.

Quoting Stephen Hawking's warning that AI could either take humanity to new heights or be the end of humanity, Mr. Lam asked: "How can we apply AI to improve operational efficiency instead of letting it end the auditing industry?"

Mr. Dam Xuan Lam - Deputy General Director of KPMG Vietnam.

The benefits of AI in increasing efficiency and reducing costs are clear, but this comes with pressure to reduce human resources and challenges in technology infrastructure, information security, transparency and accountability.

From the perspective of the management agency, Mr. Hoang Van Luong - Director of the General Department, State Audit said that the tasks of the State Audit (SA) are increasingly burdensome due to the expansion of the audit scale down to the commune level, increasing from about 700 district-level units to more than 3,300 communes. In the context of streamlining the apparatus, the application of IT and AI is a mandatory path.

Currently, the State Audit Office is promoting research with 38 application software. In 2024, the implementation of digital software in a thematic audit has initially helped shorten the time and pointed out key points for auditors to focus on clarifying. The State Audit Office is also piloting the "Audit Experience" software to ensure consistency in audit recommendations.

However, Mr. Luong pointed out two biggest "bottlenecks": first, the legal corridor has not clearly regulated data sharing, making it difficult to collect information; second, the IT capacity of auditors is still limited. He expressed his hope that ACCA will support the State Audit in amending the Audit Law (expected in 2027), upgrading infrastructure and especially training human resources.

AI must not be a "black box" in financial businesses

Sharing practical experience at Techcom Securities Joint Stock Company (TCBS), Mr. Ngo Hoang Ha - Deputy General Director said that AI, especially generative AI, is being strongly applied in financial technology strategies to personalize customer experience and improve internal productivity. For example, thanks to programming support tools, a team's staff can be reduced from 20 to 8 people but with higher efficiency.

According to Mr. Ha, the biggest challenge when applying AI is data and people. Incorrect data will lead to incorrect results for AI, so a clean and consistent data source is needed. Regarding people, AI must not be a "divine black box".

"All employees, not just the IT team, must understand what AI is, how it processes data and its accuracy to master this tool, instead of being dependent," Mr. Ha affirmed.

Regarding security, to comply with Decree 13 on personal data protection, TCBS chose to build internal AI tools (buy source code for self-development) to ensure that data does not leak outside the company's borders.

Mr. Ngo Hoang Ha - Deputy General Director of Techcom Securities Joint Stock Company (TCBS).

Discussing the AI governance framework, Ms. Ayla Majid - Chairman of ACCA Global, emphasized that the inclusion of trust and ethics in AI is a core foundation. She said that governments around the world are increasingly focusing on this issue.

“Because AI is getting smarter by the minute, regulations need to be paced appropriately. Over-regulation can stifle innovation. Governance structures need to be robust but flexible enough to adapt continuously,” said Ayla Majid.

The ACCA global chairwoman affirmed her commitment to working with the State Audit of Vietnam and its partners to share global knowledge. She emphasized that no matter how much AI develops, even if it replaces programming, human professional judgment remains an irreplaceable factor.

Concluding the discussion, Mr. Dam Xuan Lam once again emphasized the challenge of reliable data sources and information security issues, especially for the State Audit Office which holds data of millions of people.

"When auditors use AI to produce reports, they must control where the AI has used information from and how it has processed it. Instead of just giving orders and receiving passive results, human accountability and the ability to explain the results of AI are extremely important in the new era," Mr. Lam emphasized.

Established in 1904, the Association of Chartered Certified Accountants (ACCA) is the world's largest professional organization, with a network of more than 252,000 members and 526,000 students worldwide. In Vietnam, ACCA is the first international association with more than 1,300 members and 6,000 students who are leading finance and accounting experts.

ACCA's internationally recognized qualifications, continuing education opportunities and in-depth research are trusted by employers across all sectors. The association equips accounting, auditing and finance professionals with the professional knowledge and ethical thinking to create, protect and report sustainable values for organizations, businesses and the economy .

Guided by its purpose and values, ACCA’s vision is to be a pioneer in shaping the accountancy profession in a changing world. ACCA works with policymakers, governments, the funding community, the education community and others to strengthen and build a strong accountancy and finance profession that contributes to a sustainable future globally.

In Vietnam, ACCA has cooperated with the Ministry of Finance, the State Securities Commission; supported the Vietnam Association of Small and Medium Enterprises (VINASME) in accounting training activities, communication to raise awareness about ESG...

From September 9-11, ACCA organized a series of in-depth online seminars on tax policy 2025 to provide the business community with updated information, in-depth analysis and practical solutions in the context of many important changes in the Vietnamese tax system. The series of events attracted thousands of businesses to attend each seminar, providing valuable information, practical knowledge and practical tools to help businesses grasp opportunities, handle challenges and optimize tax strategies in the new period.

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Source: https://doanhnghiepvn.vn/cong-nghe/khi-ai-dinh-hinh-lai-nganh-kiem-tanoan-va-tai-chinh/20251013104752797

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