By Alexandra Richter

As artificial intelligence changes how accounting firms operate and audits are conducted, the UB School of Management hosted a timely, in-depth discussion on the regulatory implications of AI in the profession’s evolving landscape.

Presented as part of the school’s Helen and Oscar Sufrin Lectureship in Accounting, this year’s free lecture, “How AI is shaping auditing and accounting,” was given by George R. Botic, CPA, a member of the Public Company Accounting Oversight Board who recently served as acting chair. The dynamic talk drew more than 200 students, faculty, staff and industry professionals.

Botic focused on the importance of independent audits, the PCAOB’s activities to enhance the quality of those audits, and two areas offering opportunities and concerns: the continued rise of private equity investment in accounting firms and the growing use of AI.

He was optimistic about the potential for AI to enable auditors to be more effective and improve audit quality, while acknowledging that the use of AI in financial statement audits will require steady vigilance from firms to carefully determine where it can provide support and where human involvement remains essential.

“The lecture prompted me to reflect on how private equity and AI are reshaping entry-level roles, requiring new accountants to take on more advanced responsibilities earlier in their careers," says Tom Banas, senior accounting student and former president of Beta Alpha Psi. “Botic highlighted how the accounting environment has evolved due to advancements in AI through increased oversight, including periodic inspections and stricter consequences, reinforcing the importance of maintaining public trust.”

After the lecture, graduate and undergraduate accounting students continued the conversation during a dinner with Botic and Ellen Graper, board adviser to Botic, along with the dean and select Accounting and Law faculty.

The Helen and Oscar Sufrin Lectureship in Accounting brings distinguished business professionals to the UB School of Management to speak about accounting issues. Funding is provided through the generous support of Leslie Sufrin, CPA, and Gerald Sufrin, MD, a longtime UB professor, in honor of their late parents.