ACCA & EY AI Assessment Guide | Simandhar Education

Wed Aug 06 2025

As Artificial Intelligence (AI) continues to reshape global industries, a critical question arises: Can businesses trust their AI systems to make the right decisions? To address this, the Association of Chartered Certified Accountants (ACCA) and EY have jointly launched a policy paper:
“AI Assessments: Enhancing Confidence in AI”.

The paper aims to guide businesses on conducting structured evaluations of their AI systems- ensuring governance, legal compliance, and ethical responsibility. At Simandhar Education, we believe that empowering finance and accounting professionals with this knowledge is crucial in preparing them for leadership in an AI-driven future.

Why AI Assessments Matter

According to PwC, AI could contribute up to $15.7 trillion to the global economy by 2030, with $6.6 trillion coming from increased productivity and $9.1 trillion from consumption-side effects. (Source: PwC, “Sizing the prize,” 2017)

But with such immense potential comes significant risk - lack of trust, poor governance, and non-compliance could derail the benefits.

That’s where the ACCA-EY guidance plays a key role.

ACCA 2025 Course updates:

Three Core Types of AI Assessments

Governance Assessments
Evaluate whether internal governance frameworks for AI are robust, ethical, and transparent.
Conformity Assessments
Ensure AI systems are compliant with laws, standards, and regulatory requirements across jurisdictions.
Performance Assessments
Measure AI accuracy, reliability, and alignment with business goals using predefined KPIs.

Key Insights from the Report

70% of businesses are already experimenting with AI, but only 35% have formal governance models in place. (Source: IBM Global AI Adoption Index, 2023)
AI trust is a top concern: 82% of executives say they are worried about the reputational risk of biased or unethical AI decisions. (Source: Deloitte, State of AI in the Enterprise, 2023)
Emerging policy trends: Governments around the world - including the U.S., EU, and India - are pushing for mandatory AI assessments in high-risk applications (e.g., healthcare, finance, security).

Why Finance Professionals Are Central to AI Governance

Finance and accounting professionals are already trained in risk management, auditing, and compliance - skills that naturally extend to evaluating AI systems. As AI becomes part of financial processes like auditing, forecasting, and fraud detection, these professionals will be key players in ensuring trust and accountability.

What the Experts Say

Helen Brand, Chief Executive, ACCA:

“As AI scales across the economy, the ability to trust what it says is not just important - it is vital for the public interest.”

Marie-Laure Delarue, EY Global Vice-Chair, Assurance:

“Confidence is the key to unlocking AI’s full potential. Rigorous assessments will help ensure safe, responsible deployment.”

Simandhar Education’s Perspective

As one of India’s leading accounting and finance training providers, Simandhar Education is committed to preparing future-ready professionals. We integrate technology and ethics into our curriculum - across courses like US CPA, US CMA, ACCA, CIA and EA - helping students navigate the evolving AI-finance landscape.

We believe tomorrow’s finance leaders must understand not only numbers, but algorithms, data risks, and ethical AI practices.

Conclusion: Building AI Trust Starts with Knowledge and Leadership

Artificial Intelligence is not just a buzzword - it's a transformative force that’s reshaping how businesses function. However, the true power of AI lies in its responsible adoption. The ACCA-EY guidance makes it clear: trust, governance, and performance assessments are essential to harness AI effectively.

As businesses and policies evolve, finance and accounting professionals must step up as leaders - not just in financial strategy but in digital ethics and AI oversight. With the right knowledge and guidance, you can be at the forefront of this shift.

At Simandhar Education, we are committed to helping your future-proof your career with the skills that matter most - technology integration, global credentials, and ethical leadership. To learn more, visit www.simandhareducation.com or call us at +91 7780273388.

FAQs – AI Assessment & Finance Professionals

1. What is an AI Assessment?
An AI assessment is a structured evaluation of an AI system’s governance, compliance, and performance. It ensures the system is trustworthy, lawful, and fit for purpose.

2. Are AI Assessments mandatory?
Not always. Some assessments are voluntary, while others are being mandated in high-risk sectors, especially in the EU and US under emerging AI laws.

3. Who should conduct AI assessments in a company?
Assessment teams may include AI specialists, compliance officers, auditors, and finance professionals - especially those with experience in internal control and risk governance.

4. Why should finance professionals learn about AI?
Finance professionals bring crucial governance and audit skills to AI oversight. They can help ensure AI systems are aligned with organisational goals and regulatory standards.

5. What skills should I learn as a finance professional to stay relevant?

Basics of AI & data analytics
Risk management in digital systems
Ethics in technology
Regulatory compliance for AI

Simandhar Education offers several modules that address these topics within our accounting and certification programs.