The Financial Reporting Council has launched a formal research project examining AI adoption in corporate reporting, signalling intent to base future guidance on evidence rather than assumption. The initiative will directly influence how UK accountancy firms and public interest entities must disclos
Read more: FRC Launches Research Into AI's Impact on Corporate Reporting Standards
Senior leaders in UK financial services are warning of a systemic governance gap as AI-enabled fraud reaches unprecedented scale. While the US and Singapore have published AI risk frameworks, UK firms lack comparable guidance despite facing accelerating threats.
Read more: UK Financial Firms Face Critical AI Compliance Gap Amid Global Fraud Surge
The FCA has confirmed eight firms for its second AI Live Testing cohort, marking an evolution in how UK regulators supervise emerging AI use cases. The programme reflects rapid innovation in agentic systems and hybrid AI architectures, signalling the regulator's intent to maintain oversight as finan
Read more: FCA's Second AI Cohort Signals Shift to Supervised Testing
A new Smarsh survey exposes a critical compliance gap in UK financial services: 61% of staff deploy generative AI daily for client-facing work, yet only 32% trust their firms' surveillance systems to detect AI-generated content risks. The finding signals potential exposure under COBS, ICOBS and SM&C
Read more: 61% of Finance Staff Use AI Daily—But Monitoring Lags Behind
The Financial Reporting Council has partnered with Lancaster University on a major research project examining AI adoption in financial reporting and auditing at public interest entities. The evidence-gathering exercise signals the FRC's intent to base future AI regulation on empirical data rather th
Read more: FRC Launches AI in Corporate Reporting Research with Universities
The FCA has selected eight major financial services firms including Barclays and Experian for its second AI Live Testing cohort. The expansion signals regulatory confidence in safe AI deployment under existing Consumer Duty and SMCR frameworks.
Read more: FCA's Second AI Testing Cohort Signals Regulatory Confidence
The DRCF has identified seven key regulatory compliance risks from AI agents deployed by accountancy firms, confirming they remain subject to existing UK regulatory frameworks. The guidance emphasises human oversight and data controls as essential guardrails.
Read more: AI Agents Present Seven Key Compliance Risks for Accountancy
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