Using AI in an Audit
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
Gain a foundational understanding of AI technologies and how they are applied in the context of auditing. This includes an overview of machine learning, natural language processing, and data analytics. Delve into specific AI tools and techniques currently in use for auditing financial statements. Learn how AI can enhance efficiency, accuracy, and depth in audit processes, including risk assessment, transaction testing, and fraud detection. Address the ethical considerations and compliance issues surrounding the use of AI in audits, including data privacy, security, and the impact on audit quality and transparency.
Publication Date: May 2024
Topics Covered
- A Review of the Auditing Standards
- What is Artificial Intelligence (AI)?
- Uses for AI
- AI in the News
- Ethics & AI
- Using AI in an Audit
- AI Examples
Learning Objectives
- Identify how to use AI to assist in performing an audit
- Identify the limitations of artificial intelligence software
- Identify the ethical issues involved with using artificial intelligence
- Identify what Elon Musk's Neuralink company was the first to do
- Identify what almost all current AI systems are considered
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None
