Chartered Accountants Australia and New Zealand provided a submission to the Joint Select Committee on Artificial Intelligence, supporting responsible AI adoption as a national productivity and innovation priority. CA ANZ says AI can reduce repetitive work, improve access to information, support better analysis and enable faster decision-making across the economy. In accounting, this includes opportunities to assist with data analysis, workflow automation, forecasting and financial reporting insights.

The submission supports a nationally consistent, risk-based AI framework focused on high-risk uses and unacceptable harms. Chartered accountants also have an important role in helping businesses adopt AI responsibly through governance, risk management, assurance, data integrity and ethical decision-making, with targeted support needed for SMEs, family businesses and regional communities.