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The Financial Reporting Council (FRC) has reported that the UK's largest accounting firms do not formally monitor how artificial intelligence affects the quality of their audits. In a review published on Thursday, the watchdog noted that while the Big Four firms – Deloitte, EY, KPMG, and PwC &

Scotland will be home to the UK's most powerful supercomputer following a government U-turn. Chancellor Rachel Reeves today confirmed £750 million in funding to build the UK’s new national supercomputer at the University of Edinburgh, which she said would strengthen Britain as an AI-make

The Financial Conduct Authority (FCA) will launch a Supercharged Sandbox to help firms experiment safely with AI to support innovation. Through a new collaboration, announced today, firms will have the opportunity to experiment with AI using NVIDIA accelerated computing and NVIDIA AI Enterprise Soft

Major accountancy firms are vying to establish a new generation of audits designed to verify the effectiveness and safety of artificial intelligence systems. Deloitte, EY, and PwC have confirmed they are developing AI assurance services, aiming to leverage their established reputations in financial

Once valued at $1.5 billion (£1.11bn), British AI startup Builder.ai is now initiating bankruptcy protection after revelations that its lauded artificial intelligence platform was significantly reliant on human engineers, primarily in India, rather than genuine AI automation. The company, know

Edinburgh-headquartered AI fintech company Aveni has unveiled FinLLM, a large language model (LLM) specifically designed for the UK financial services industry. FinLLM is designed to meet the industry’s stringent requirements for compliance, safety, and performance, setting a new benchmark for

Scottish accountants are demonstrating a notably positive stance towards Artificial Intelligence (AI), embracing the technology more readily and with less concern than their global counterparts, according to new data from the ACCA (Association of Chartered Certified Accountants). The 2025 Global Tal

The accountancy profession is undergoing a significant shift of artificial intelligence (AI) – but it’s important to see it for what it is: a tool to improve the way we serve clients, not to replace the personal service that lies at the heart of what we do, writes Kenneth McEwen. AI is h

As artificial intelligence (AI) rapidly moves from a futuristic concept to a practical tool within the accountancy profession, firms across Scotland are grappling with its potential, integrating AI to enhance efficiency while navigating the risks and ethical considerations. Leading Scottish accounta

The Financial Conduct Authority (FCA) is seeking views from firms about how its live AI testing service can help them to deploy safe and responsible AI, which will benefit UK consumers and markets. The live testing service would be a new component of the FCA’s AI Lab, which has been supporting

Glasgow-based artificial intelligence (AI) specialist FD Intelligence has secured £200,000 in funding from UKSE, a subsidiary of Tata Steel, to accelerate its growth within the financial services sector. Founded in 2021, the Finnieston firm initially offered consultancy before developing its o

Artificial intelligence (AI) offers a significant opportunity for Chartered Accountants to deliver greater value and develop fulfilling careers, but realising its potential requires dedicated upskilling and proactive leadership, according to a landmark report by Chartered Accountants Worldwide (CAW)

Lloyds Banking Group has announced it is strategically enhancing its artificial intelligence (AI) capabilities by training 200 senior leaders through an intensive 80-hour programme – "Leading with AI". Delivered in partnership with training provider Cambridge Spark and experts from Cambridge U

The CEO of the Institute of Chartered Accountants of Scotland (ICAS), Bruce Cartwright CA, has written an open letter in response to former Chancellor Jeremy Hunt's suggestions that graduates should avoid accountancy as AI usage increases. Speaking on the Jimmy's Jobs of the Future podcast, Mr

Edinburgh-headquartered Aveni.ai, a specialist in AI for financial services, has agreed a new partnership with Octopus Money. Following a successful trial, Octopus Money has adopted Aveni Detect and Aveni Assist across its adviser and coaching teams. Octopus Money’s model offers highly persona