Given the growing buzz surrounding the potential of artificial intelligence (AI) to disrupt some of the traditional areas of the profession, the AICPA has teamed up with Chartered Professional Accountants of Canada (CPA Canada) to release two new white papers exploring the evolving role of AI in auditing.
The first paper, A CPA’s Introduction to AI: From Algorithms to Deep Learning, What You Need to Know, acts as a foundational resource for auditors seeking information on what AI is, how it works and what it can do. The second, The Data-Driven Audit: How Automation and AI are Changing the Audit and the Role of the Auditor, shows how AI will directly affect assurance engagements by taking over repetitive tasks, improving efficiency and assessing vast pools of data.
“Like all sophisticated technology, artificial intelligence carries great potential,” says Amy Pawlicki, AICPA’s vice president of assurance and advisory innovation. “CPAs are already playing a key role in harnessing and maximizing AI’s benefits in the public interest, and those who are knowledgeable about AI and how to get the most out of it will increasingly be in great demand.”