New Delhi, Oct. 24 -- Chartered accountants (CAs) will soon have access to artificial intelligence (AI) tools designed by the accounting rule maker and self-regulator to perform sharper internal and statutory audits.

The Institute of Chartered Accountants of India (ICAI) is developing AI tools that will be provided to professionals to extract desired information from voluminous data and identify any financial stress, fraud, or other specific audit requirements, said Charanjot Singh Nanda, president, ICAI, in an interview.

AI cannot replace natural intelligence, but will work as a faithful servant to professionals, and hence, worries about this technology affecting work opportunities for CAs are misplaced, he added.

The ICAI's move to e...