Artificial intelligence for audit, forensic accounting, and valuation : a strategic perspective / Ali S. Naqvi.

By: Naqvi, Ali S, 1968- [author.]
Language: English Publisher: Hoboken, New Jersey : Wiley, 2020Edition: First editionDescription: 1 online resource (xiii, 306 pages) : illustrations (some color) cmContent type: text Media type: unmediated Carrier type: volumeISBN: 9781119601883Subject(s): Auditing -- Data processing | Forensic accounting | Valuation | Artificial intelligenceGenre/Form: Electronic books. DDC classification: 658.028563 LOC classification: HF5667.12 | .N37 2020Online resources: Full text available at Wiley Online Library Click here to view
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.
Summary: "With significant and disruptive automation underway, accounting and auditing professions must rediscover themselves. The automation is permanently changing how services are developed and delivered. Due to the advent of highly cost-effective automated models that greatly outperform traditional auditing and forensic accounting, customers are demanding audit and accounting firms to automate. In this unsettling world dominated by "creative destruction", only those firms and professionals will survive and thrive who know how to adapt and innovate. At the center of all innovation are two revolutionary technologies: artificial intelligence and blockchain. The rise of artificial intelligence technology provides limitless opportunities for those who know how to adapt. Firms need a comprehensive framework for intelligent automation centric modernization. This book delivers a comprehensive framework to transform legacy firms into modern accounting and audit services firms. It provides a big picture view of building firmwide capabilities using artificial intelligence and empowers professionals by explaining: How artificial intelligence is the most important competitive advantage of modern audit and accounting firms. What is artificial intelligence and how it is being used in the industry How to compete effectively in the new age of accounting and audit. How to build your firm around artificial intelligence What are the governance challenges of AI How to deliver results with artificial intelligence"-- Provided by publisher.
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EBOOK EBOOK COLLEGE LIBRARY
COLLEGE LIBRARY
658.028563 N 2020 (Browse shelf) Available CL-50661
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Includes index.

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.

"With significant and disruptive automation underway, accounting and auditing professions must rediscover themselves. The automation is permanently changing how services are developed and delivered. Due to the advent of highly cost-effective automated models that greatly outperform traditional auditing and forensic accounting, customers are demanding audit and accounting firms to automate. In this unsettling world dominated by "creative destruction", only those firms and professionals will survive and thrive who know how to adapt and innovate. At the center of all innovation are two revolutionary technologies: artificial intelligence and blockchain. The rise of artificial intelligence technology provides limitless opportunities for those who know how to adapt. Firms need a comprehensive framework for intelligent automation centric modernization. This book delivers a comprehensive framework to transform legacy firms into modern accounting and audit services firms. It provides a big picture view of building firmwide capabilities using artificial intelligence and empowers professionals by explaining: How artificial intelligence is the most important competitive advantage of modern audit and accounting firms. What is artificial intelligence and how it is being used in the industry How to compete effectively in the new age of accounting and audit. How to build your firm around artificial intelligence What are the governance challenges of AI How to deliver results with artificial intelligence"-- Provided by publisher.

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