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The Impact of Artificial Intelligence on the Future of Audit

2020 Artificial intelligence
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Release : 2020
Genre : Artificial intelligence
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis The Impact of Artificial Intelligence on the Future of Audit by : Jessica Sydney Fox

Download or read book The Impact of Artificial Intelligence on the Future of Audit written by Jessica Sydney Fox. This book was released on 2020. Available in PDF, EPUB and Kindle. Book excerpt: As artificial intelligence becomes more prevalent in the audit profession, it is imperative for auditors, firms, and universities to understand its impact. There has been prior research done in studying how AI systems have been implemented into audit and accounting that has helped formulate the information in this paper. This paper serves to address the question of if artificial intelligence is worth the investment and what its overall impact on the audit profession will be. It will look at the potential effect AI has on the efficiency and quality of auditor's work as well as auditor job opportunity. Auditors should become more informed on the usage of AI systems so they can learn how to operate these machines to know how to analyze the data processed through AI. Accounting firms should also develop a deeper understanding of AI because they are currently investing millions of dollars into AI research, development, and would have a favorable return on investment. Although there are some setbacks to AI usage in the audit field including loss job opportunity, there are significantly more pros to AI usage comprising of faster, more consistent, and more accurate audits, as well as improved relationships between client and auditor.

Artificial intelligence and the future of the internal audit function

2024-09-02 Business & Economics
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Release : 2024-09-02
Genre : Business & Economics
Kind : eBook
Book Rating : 265/5 ( reviews)

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Book Synopsis Artificial intelligence and the future of the internal audit function by : Ph Zygoulis

Download or read book Artificial intelligence and the future of the internal audit function written by Ph Zygoulis. This book was released on 2024-09-02. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2024 in the subject Business economics - Revision, Auditing, grade: A, , language: English, abstract: This review work makes significant contributions to both theoretical and practical areas. For theory, it identifies unexplored study areas (research gaps), hence influencing future research orientations and theoretical underpinnings. Furthermore, this review contributes to the development of a theoretical framework (CACS), which will help stakeholders comprehend and conceptualize the use of AI in the IAF and can serve as a foundation for future research. In reality, this study assists internal auditors in assessing and understanding the possible benefits and risks of using AI in their organization's IAF.

Artificial Intelligence for Audit, Forensic Accounting, and Valuation

2020-08-25 Business & Economics
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Release : 2020-08-25
Genre : Business & Economics
Kind : eBook
Book Rating : 886/5 ( reviews)

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Book Synopsis Artificial Intelligence for Audit, Forensic Accounting, and Valuation by : Al Naqvi

Download or read book Artificial Intelligence for Audit, Forensic Accounting, and Valuation written by Al Naqvi. This book was released on 2020-08-25. Available in PDF, EPUB and Kindle. Book excerpt: Strategically integrate AI into your organization to compete in the tech era The rise of artificial intelligence is nothing short of a technological revolution. AI is poised to completely transform accounting and auditing professions, yet its current application within these areas is limited and fragmented. Existing AI implementations tend to solve very narrow business issues, rather than serving as a powerful tech framework for next-generation accounting. Artificial Intelligence for Audit, Forensic Accounting, and Valuation provides a strategic viewpoint on how AI can be comprehensively integrated within audit management, leading to better automated models, forensic accounting, and beyond. No other book on the market takes such a wide-ranging approach to using AI in audit and accounting. With this guide, you’ll be able to build an innovative, automated accounting strategy, using artificial intelligence as the cornerstone and foundation. This is a must, because AI is quickly growing to be the single competitive factor for audit and accounting firms. With better AI comes better results. If you aren’t integrating AI and automation in the strategic DNA of your business, you’re at risk of being left behind. See how artificial intelligence can form the cornerstone of integrated, automated audit and accounting services Learn how to build AI into your organization to remain competitive in the era of automation Go beyond siloed AI implementations to modernize and deliver results across the organization Understand and overcome the governance and leadership challenges inherent in AI strategy Accounting and auditing firms need a comprehensive framework for intelligent, automation-centric modernization. Artificial Intelligence for Audit, Forensic Accounting, and Valuation delivers just that—a plan to evolve legacy firms by building firmwide AI capabilities.

Artificial Intelligence in Accounting and Auditing

1988 Accounting
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Release : 1988
Genre : Accounting
Kind : eBook
Book Rating : 849/5 ( reviews)

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Book Synopsis Artificial Intelligence in Accounting and Auditing by : Miklos A. Vasarhelyi

Download or read book Artificial Intelligence in Accounting and Auditing written by Miklos A. Vasarhelyi. This book was released on 1988. Available in PDF, EPUB and Kindle. Book excerpt: A study of artificial intelligence in accounting and auditing. Topics addressed include: expert systems for audit tasks; REA accounting database evolution; fuzzy logic - treating the uncertainty in expert systems; bankruptcy prediction via a recursive partitioning model; and more.

Continuous Auditing with AI in the Public Sector

2024-09-18 Business & Economics
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Release : 2024-09-18
Genre : Business & Economics
Kind : eBook
Book Rating : 30X/5 ( reviews)

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Book Synopsis Continuous Auditing with AI in the Public Sector by : Lourens J. Erasmus

Download or read book Continuous Auditing with AI in the Public Sector written by Lourens J. Erasmus. This book was released on 2024-09-18. Available in PDF, EPUB and Kindle. Book excerpt: The effectiveness of internal audit activities is important for the sustainability of change in the public sector. In this sense, the tools and techniques used and the level of competencies of public sector auditors are decisive. This book deals with the effects of current technological developments in the public sector on auditing and risk management activities. Therefore, it is a resource for public internal auditors to create a digital audit strategy based on artificial intelligence (AI) and blockchain-based applications. Institutionalisation of their structures is important for public sector internal auditors. For this, basic requirements, future expectations, and best practices are explained. The digital business model is presented to produce value-added audit findings and outputs that guide public internal auditors and all digital-era stakeholders. This book is a pioneering work based on continuous auditing/continuous monitoring approaches using various AI and blockchain-based tools and techniques. There is nothing more valuable to the success of a public internal auditor than a detailed understanding of the business. The important lesson in developing business knowledge, especially in the new audit universe emerging with digital transformation, is that all auditors must understand that they never finish learning about business processes, risks, and control points in the digital era. They must constantly push themselves to be motivated and learn about the business operations they audit to implement new audit approaches powered by AI. In addition to obtaining up-to-date business information from process owners and stakeholders, public auditors responsible for conducting an AI-based continuous audit programme should also look inside their departments for a different perspective on business information that impacts continuous audit programme phase details and has the potential to add value. It should be noted that the additional source of information begins with your individual audit experience, digital skills, and qualifications.

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