AI Series: Audit & Compliance
This course provides an overview of how AI is used in audits and compliance tasks. It discusses how AI helps auditors identify risks by analyzing large amounts of data and setting materiality thresholds based on historical data and industry standards. It also addresses how AI tools can be also used to automate audit procedures like data analysis and testing and how AI can detect anomalies and fraud by spotting unusual patterns in financial data and transactional records.
Course Information
Course No. CAM004
Format: Online pdf (22 pages). Printed book available.
Instructional Delivery Method: QAS Self-Study
Prerequisites: None
Advance Preparation: None
Level: Overview
CPE Credit: 1 hr.
Field of Study: Auditing
Course Author: Kelen F. Camehl, CPA, MBA
Course expiration: You have one year from date of purchase to complete the course.
Course Revision Date: April 2024
Objectives
Course Topics:
* Role of AI in Audit Planning and Risk Assessment
* Risk Identification
* Materiality Determinations
* Automating Audit Procedures with AI-Driven Tools
* Detection of Anomalies and Fraud Using AI Techniques
* Compliance Monitoring and Regulatory Reporting with AI
* Best Practices for Implementing AI Tools
Learning Objectives:
Upon completion of this course, you will be able to:
- Recognize AI’s role in audit planning and risk assessment
- Identify how AIcan automate audit procedures
- Recognize AItechniques for detecting anomalies and fraud during audits
- Identify AI’s application in compliance monitoring
