Ethical AI in Action: Compliance, Innovation, and Accounting's Next Frontier

On this episode of Blood, Sweat & Balance Sheets, host Mike Whitmire sits down with Vicky LeVay, Sr. Director of Compliance, Risk, and Information Security at FloQast, and Jaysen Dyal, Product Marketing Manager at FloQast and former accountant. Together, they discuss the growing role of AI in accounting and FloQast’s achievements, including earning ISO 42001 certification.

Vicky provides insights into what it takes to secure this critical certification and why it’s essential for building trust and ensuring accountability in AI-driven processes. The conversation dives into the ethical challenges of implementing AI in the accounting field and how FloQast’s vision paves the way for innovation, efficiency, and solving industry challenges. Learn how AI-powered tools are reshaping the profession, empowering accountants to move beyond manual tasks and tackle strategic work with confidence.

Key Takeaways

1. AI’s Role in Accounting: How artificial intelligence is streamlining accounting processes and enabling accountants to focus on strategic initiatives.
2. ISO 42001 and Trust in AI: Why FloQast pursued ISO 42001 certification and its significance in ensuring trust and compliance in AI workflows.
3. Addressing Ethical Challenges: Exploring risks like prompt injection, AI hallucinations, and the importance of integrating robust safeguards.
4. FloQast’s Vision for AI: How FloQast is driving innovation with AI-powered products, reducing workloads, boosting efficiency, and preventing burnout for accounting teams.
5. Preparing for the Future: Insights into how ethical AI is shaping the future for accountants and helping them take on more impactful roles within their organizations.

Listen in for actionable insights and perspectives on the intersection of AI, compliance, and innovation in accounting.