Utilizing AI in Financial Statement Audits: Analyzing Data, Minimizing Risks, Implementation Strategies
Recording of a 110-minute CPE video webinar with Q&A
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.
Outline
- Utilizing AI and technology in financial statement audits: introduction
- How AI is currently being used in financial statement examinations
- Caveats of using current technology and AI
- Implementing AI
- 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
Dr. Mfon Akpan, CGMA
Assistant Professor of Accounting
Northeastern State University
Dr. Akpan CGMA, is an Assistant Professor of Accounting at Northeastern State University. His core teaching... | Read More
Dr. Akpan CGMA, is an Assistant Professor of Accounting at Northeastern State University. His core teaching expertise encompasses Financial Accounting, Auditing, and Fund Accounting. Dr. Akpan is a dedicated advocate for advancing accounting education and research through the strategic integration of technology, particularly focusing on artificial intelligence (AI) and data strategies. His extensive and recent publications demonstrate a profound interest in the evolving dynamics of the financial world and their critical implications for accounting practices. Key works include, "Future-Proof Accounting: Data and Technology Strategies" (2024), a foundational book exploring modern accounting transformation, "Aligning artificial intelligence with ethical accountancy: A global perspective on emerging frameworks" (2024) addresses crucialethical considerations in AI, "ChatGPT and AI in accounting education and research" (2023), a timely examination of AI's role in academic settings, "The Elon Musk Effect: How community initiative spending impacts earned social media valuation" (2022), showcasing an interest in market dynamics and "Cluster Analysis of share price: How firm characteristics relate to accounting metrics" (2021), reflecting deep analytical insights into financial data.
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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
Dr. Dell, CPA, DBA joined the faculty of Francis Marion University in Florence, SC in 2019 as an Assistant Professor. Serving his previous institution in the Midwest for thirteen years as Accounting Program Director, he has been able to contribute to his student’s development by integrating a variety of tools into his classroom. Not only have these resources enhanced his student’s hard skills and technical knowledge, but they have also improved their soft skills and ability to succeed in academia and the work place. Dr. Dell recently received the Accounting Educator Award for 2018 from the Wisconsin Institute of CPAs. He is certified as a CPA and holds an MBA from the Wharton School, an MAE from Marian University, and a DBA from the University of Wisconsin – Whitewater. Dr. Dell brings real-world experiences, based on previous entrepreneurial, Big 4 and military service, to the classroom.
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