The greatest risk when using AI to generate audit reports is that it may misrepresent control effectiveness (B)--for example, by overstating the robustness of controls, understating deficiencies, or summarizing findings inaccurately. This undermines the reliability of the entire audit and can lead to poor management decisions, regulatory issues, and reputational damage.
AAIA emphasizes that AI-generated artifacts still require professional judgment and validation to ensure they accurately reflect audit evidence and conclusions.