Leveraging Artificial Intelligence in Internal Audit
In today's rapidly evolving business landscape, internal auditors must adapt to the transformative power of Artificial Intelligence (AI) to enhance efficiency, effectiveness, and insight in their audit processes. This course is designed to equip internal auditors with the knowledge and skills necessary to leverage AI tools effectively throughout the audit lifecycle.
By the end of this course, internal auditors will have the knowledge and confidence to harness the power of AI to optimize their audit processes, reduce risk, and provide valuable insights to their organizations. Join us in this transformative journey towards more efficient and effective internal auditing through AI integration.
Course Objectives:
- Identify artificial intelligence tools (AI) to streamline the internal audit process.
- Establish what types of audit processes can be enhanced by using AI.
- Consider common pitfalls of using AI in the internal audit process.
- Discuss advantages and disadvantages of using AI in the internal audit process.
- Establish what using AI tools in the internal audit process looks like operationally.
- Create change management for AI transformation.
Course Topics:
- Identifying AI Tools for Streamlining the Internal Audit Process
- Explore the landscape of AI technologies and tools available for internal auditors.
- Evaluate the suitability of AI tools for specific audit scenarios.
- Understand how AI can automate routine tasks and augment human expertise in auditing.
- Types of Audit Processes Benefiting from AI
- Examine various audit processes, such as financial, operational, compliance, and fraud detection.
- Identify key areas within each audit process where AI can be integrated for improved results.
- Develop criteria for choosing the right AI solutions based on audit objectives.
- Common Pitfalls of Using AI in the Internal Audit Process
- Recognize potential challenges and risks associated with implementing AI in internal auditing.
- Explore best practices for data quality, security, and privacy to mitigate risks.
- Learn how to address ethical and regulatory considerations when using AI.
- Advantages and Disadvantages of Using AI in the Internal Audit Process
- Discover the benefits of AI adoption, such as enhanced audit scope, reporting, and insights.
- Assess the limitations and drawbacks of AI, including the potential for bias and overreliance on technology.
- Gain strategies for maximizing AI advantages while minimizing disadvantages.
- Operational Implementation of AI Tools in the Internal Audit Process
- Delve into the practical aspects of integrating AI tools into your audit workflow.
- Understand the steps involved in developing a proof of concept - data preparation, model selection, and validation.
- Managing stakeholder engagement.
- Examine case studies and real-world examples of successful AI-driven internal audits.
- Assessing AI tool effectiveness and ROI.
- Change Management Framework
- Assess the impact of the change on People, Process, and Technology.
- Establish a process to make sure the AI technology and associated processes are in compliance with regulatory requirements.
Who Should Attend:
This course is ideal for internal auditors seeking to enhance their internal audit processes via AI tools.
Summary Info
CPE Hours Available: 14
NASBA Knowledge Level: Intermediate
NASBA Field of Study: Auditing
Competency Level: Applied Knowledge
Prerequisites: Experience in internal audit engagements.
Advance Preparation: None
Topic(s): Artificial Intelligence