Harnessing the Power of AI in Internal Auditing: Enhancing Skills with Desktop AI Tools
In the rapidly evolving landscape of internal auditing, the integration of Artificial Intelligence (AI) has become a pivotal factor in enhancing efficiency, accuracy, and insight. Desktop AI tools such as ChatGPT, Bing Chat, Jasper, Google Bard, and Perplexity are transforming how auditors approach their tasks. With AI's ability to handle complex datasets and generate natural language texts, these tools are invaluable for conducting research, performing risk assessments, analyzing data, and crafting comprehensive audit reports. However, mastering their usage requires a blend of technical know-how and critical thinking.
Our upcoming Continuing Professional Education (CPE) event, "Is Your Audit Staff Using AI?" is meticulously crafted to empower auditors with the skills needed to effectively incorporate AI into their audit processes. This event is designed to expand auditors' capabilities by teaching them how to use desktop AI tools to enhance various aspects of their work.
Benefits of AI in Audit Work
AI technologies can execute tasks traditionally requiring human intelligence, such as reasoning and decision-making, with increased efficiency and precision. Tools like ChatGPT and Bing Chat not only streamline research by swiftly providing relevant information but also assist in answering audit-related queries. These capabilities enable auditors to focus on higher-level analysis and strategic decision-making.
AI tools are particularly beneficial in risk assessment and data analysis, where large volumes of data need to be processed quickly to identify trends and anomalies. By automating these processes, auditors can ensure a more thorough examination, reducing the risk of oversight.
Critical Thinking and Ethical Considerations
While AI offers substantial advantages, it also introduces challenges that auditors must navigate with care. Critical thinking and independent judgment remain essential as auditors evaluate AI outputs, mitigating risks associated with biases and errors inherent in AI systems. Moreover, maintaining ethical standards and ensuring data privacy are paramount, as auditors must protect the integrity and confidentiality of client information.
Real-Life Applications and Learning Opportunities
The "Is Your Audit Staff Using AI?" CPE event provides a platform to explore the application of desktop AI tools in real-world audit scenarios. Participants will engage with practical applications and examples that illustrate how AI can be leveraged effectively across different audit tasks. This interactive format fosters a collaborative learning environment where attendees can share their experiences, challenges, and best practices.
Event Format and CPE Credits
This two-hour event is tailored for internal auditors, compliance professionals, and others seeking to enhance their tradecraft skills. Participants will earn 2 CPE hours in auditing (YB) upon completion, accompanied by a certificate of completion. The event promises to be a comprehensive, insightful, and engaging experience that not only enhances participants' technical proficiency but also strengthens their commitment to professionalism and ethical standards in internal auditing.
Don't miss this opportunity to advance your auditing skills through the effective use of desktop AI tools. Join us for an enriching CPE event that promises to broaden your understanding of AI's role in modern auditing practices.

Is your audit staff using AI?

$140.00

Quantity

Offered every six weeks on Fridays at 10:00 a.m. to 12:00 p.m. Central Time in two CPE-Credit event.

We can schedule private events on your timetable for two or more attendees.
The CPE training event focused on the utilization of AI by audit staff in the internal audit process. The event covered various agenda items to enhance understanding and provide guidance on incorporating AI effectively. The highlights of the event were as follows:

Participants were warmly welcomed and provided with an overview of the event's objectives, emphasizing the benefits of using AI in auditing.

The concept of AI was explained, including its functionality and operation, along with a discussion on the capabilities and limitations of AI in the audit context.

Ethical considerations, biases, and potential risks associated with AI models were addressed.

Guidelines were provided to effectively integrate AI into the audit process.

Strategies for conducting research and gathering information using AI were shared, along with tips for critically evaluating and verifying the obtained information.

Participants were guided on ensuring compliance with professional standards, data privacy, and confidentiality requirements.

Real-life scenarios were presented to demonstrate how AI can be utilized by audit staff in various audit tasks, such as research, risk assessment, data analysis, and report writing.

Outcomes and lessons learned from actual audit engagements where AI was used were discussed.

The importance of maintaining critical thinking skills and independent judgment in the audit process was emphasized.

Guidance was provided on when and how to validate AI's outputs through independent research and verification.

Participants were encouraged to exercise caution and rely on their professional judgment when utilizing AI.

Risks associated with using AI were discussed, and strategies to mitigate those risks were explored.

The significance of data security, confidentiality, and protecting sensitive information while using AI models was highlighted.

Internal controls and quality assurance measures for managing the use of ChatGPT within the audit function were examined.

The event emphasized the importance of tailoring the use of desktop AI to the organization's needs and context, while maintaining the auditor's critical thinking and independent judgment throughout the audit process.
Learning Objectives for the CPE Event:

Understand the fundamentals of desktop AI

Comprehend the limitations and risks of using AI

Explore best practices for integrating AI into the audit process

Enhance critical thinking skills and independent judgment

Manage risks and ensure compliance

Learn from real-life case studies and practical applications

Foster a culture of continuous learning and professional development

Explore the potential benefits and considerations of desktop AI usage in the audit profession.
The major agenda items within this intense CPE training event are:

Introduction and Overview

Understanding desktop AI and the limitations

Best Practices for Using AI in Auditing

Case Studies and Practical Applications

Critical Thinking and Independent Judgment

Risk Management and Controls

Conclusion and Wrap-up
An auditor can utilize AI in their day-to-day work in several ways:

Research and Information Gathering: AI tools can be used to quickly retrieve information, definitions, regulations, or industry standards. It can assist in conducting preliminary research on audit topics or provide access to up-to-date information that may be helpful in understanding complex concepts or regulations.

Scenario Analysis and Risk Assessment: AI tools can help in performing scenario analyses by providing insights or assisting in evaluating potential risks associated with specific situations or business processes. It can simulate different scenarios based on the inputs provided by the auditor, allowing for better risk assessment and decision-making.

Documentation and Report Writing: AI tools can assist in generating well-structured and concise documentation. It can help internal auditors by suggesting appropriate templates, providing guidance on report writing best practices, or offering language assistance to improve the

Professional Development and Training: AI tools can serve as a learning resource for auditors by answering questions related to auditing standards, methodologies, or professional guidelines. It can provide guidance on continuing professional education (CPE) topics, offer case studies for training purposes, or facilitate discussions on complex audit issues.

It is important to note that while AI can provide valuable assistance, it should not replace critical thinking, professional judgment, or independent verification. Internal auditors should use their expertise and exercise caution when relying on AI models, ensuring that the information obtained aligns with recognized standards and organizational requirements.

Is your audit staff using AI?

Details on Event Presentation

CPE Event Highlights

Learning Objectives

Key Issues on the Agenda

NASBA Program Disclosure

Summary of the Subject Matter

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