In a major push to boost responsible AI adoption, the Association of Chartered Certified Accountants (ACCA) and global professional services firm EY have released a new policy paper urging businesses to adopt thorough AI assessment frameworks to unlock the full benefits of the technology.
Titled AI Assessments: Enhancing Confidence in AI, the report highlights how rigorous evaluations of artificial intelligence systems can drive innovation, productivity, and trust. It explores how governance, compliance, and performance assessments can help ensure AI tools meet legal, ethical, and operational standards.
The publication comes amid growing global interest in AI regulation, with the paper aligning with recent developments like the U.S. administration’s AI Action Plan. It argues that businesses capable of effectively evaluating their AI systems are more likely to deploy solutions that are reliable, responsible, and aligned with stakeholder expectations.
Key recommendations from the report include urging business leaders to proactively adopt AI assessments—even voluntary ones—to improve corporate governance and risk management. It also calls on policymakers to standardize assessment frameworks across borders, clarify objectives, and invest in building a skilled market of qualified assessors.
The report doesn’t shy away from acknowledging current limitations in the AI assessment landscape. These include vague methodologies, lack of skilled providers, and inconsistent quality. However, ACCA and EY propose that these challenges can be overcome with clear standards, robust methodologies, and professional accountability.
ACCA Chief Executive Helen Brand emphasized the urgency of trustworthy AI, noting that trust is “vital for the public interest” as AI becomes deeply embedded across economies. EY Global Vice-Chair Marie-Laure Delarue echoed this, stating that confidence is key to unlocking AI’s vast potential.
The paper marks a significant step toward institutionalizing trust in AI at a time when public scrutiny and regulatory expectations are rapidly increasing. While it provides practical guidance, it also serves as a critical reminder that without transparency, the promise of AI may be undermined by mistrust.
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As governments and companies race to harness AI, this report adds a timely and necessary voice calling for caution, clarity, and confidence through accountability.