Interested in training for your team? Click here to learn more

Utilizing AI in Financial Statement Audits: Analyzing Data, Minimizing Risks, Implementation Strategies

A live 110-minute CPE video webinar with interactive Q&A

This program is included with the Strafford CPE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Monday, July 22, 2024 (in 4 days)

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

(Alert: Event date has changed from 6/17/2024!)

or call 1-800-926-7926

This webinar will take a look at how artificial intelligence (AI) is changing the audit process. Our panel of financial reporting veterans will address how accounting and auditing professionals can use current technology to increase the accuracy of financial statement examinations and expedite the process.

Description

AI and the latest technology can increase efficiency and reduce costs. AI can assist auditors in analyzing and evaluating mass quantities of data quickly and in real time. It can help document review processes, generate planning documents, and even predict future audit risks and trends.

The benefits are remarkable, but accountants, auditors, and businesses need to thoroughly evaluate and manage the relative risks associated with the latest technology. AI is subject to hallucinations. Its parameters must be appropriately defined and monitored. Ensuring the data used is secured properly is a paramount concern. Implementing and modifying current accounting and auditing processes is a significant undertaking. However, the explosive growth of these technologies has made it a necessity. Financial professionals must thoroughly grasp best practices for utilizing AI and current technology when preparing and examining financial statements.

Listen as our panel of accounting and auditing technology experts reviews the pros and cons of using AI in preparing and assessing the validity of financial statements.

READ MORE

Outline

  1. Utilizing AI and technology in financial statement audits: introduction
  2. How AI is currently being used in financial statement examinations
  3. Caveats of using current technology and AI
  4. Implementing AI
  5. Best practices

Benefits

The panel will review these and other critical issues:

  • Strategies for incorporating current technology in financial statement audits
  • Ensuring the security of data used for analytical review
  • Steps to minimize AI hallucinations and invalid results
  • How AI can be used to expedite financial statement examinations and preparation

Faculty

Akpan, Mfon
Dr. Mfon Akpan, CGMA

Assistant Professor of Accounting
Methodist University

Mr. Akpan’s area of expertise is generating an estimated valuation of earned social media from corporate social...  |  Read More

Dell, Scott
Dr. Scott Dell, CPA, DBA

Assistant Professor of Accounting
Francis Marion University

Dr. Dell, CPA, DBA joined the faculty of Francis Marion University in Florence, SC in 2019 as an Assistant Professor....  |  Read More

Attend on July 22

CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event. See NASBA details.

Cannot Attend July 22?

CPE credit is not available on downloads.

CPE On-Demand

See NASBA details.

Download