Mr. Kevin Prendergast:

First, auditing standards are technology neutral, so there should not be a requirement for artificial intelligence. The potential for artificial intelligence and where it will add value is in those very large and complex audits where the challenge is in getting your head around the data and engaging with the complexity of dealing with things like asset valuation and assessment of income, for example. One would hope that for the small and medium-sized practitioners, which deal with small and medium-sized entity audits, that level of technical investment will not be as necessary as I believe it will be for those very large firms, which, as Ms Kennedy indicated, we regulate directly.