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.
Table of Contents
Preface ix
Acknowledgments xiii
Part I: Foundations For AI and Audit
Chapter 1: Introduction: Staying Ahead of the Emergent Risk 3
Chapter 2: Fourth Industrial Revolution and Its Impact on Audit 23
Chapter 3: What is Artificial Intelligence? 37
Chapter 4: Rise of Machine Learning 51
Chapter 5: Machine Learning 69
Chapter 6: Building an IAA Audit Firm: The Planning Toolkit 103
Part II: Building the Automated Audit Function in the Enterprise
Chapter 7: Obtain, Retain, and Preplan with AI 119
Chapter 8: Automated Inherent Risk Assessment 147
Chapter 9: Automating Internal Controls Assessment 165
Chapter 10: Automated Procedures 189
Chapter 11: Reporting and Post-Audit Management 203
Part III: Forensic Accounting Automation
Chapter 12: Intelligent Automation of Fraud Detection 217
Chapter 13: Forensic Accounting 227
Chapter 14: Managing for Value and Valuation 241
Chapter 15: Tying It Together and Robots 251
Part IV: Management, Organization, and Governance For AI in Audit
Chapter 16: Client Management 265
Chapter 17: AI Organization and Project Management 275
Chapter 18: Governance and Ethics 283
Index 291
