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Artificial Intelligence for Audit, Forensic Accounting, and Valuation
A Strategic Perspective
Al Naqvi (Author)
9781119601883, Wiley
Hardback, published 28 September 2020
320 pages
23.1 x 15.8 x 3 cm, 0.544 kg
Strategically integrate AI into your organization to compete in the tech era The rise of artificial intelligence is nothing short of a technological revolution. AI is poised to completely transform accounting and auditing professions, yet its current application within these areas is limited and fragmented. Existing AI implementations tend to solve very narrow business issues, rather than serving as a powerful tech framework for next-generation accounting. Artificial Intelligence for Audit, Forensic Accounting, and Valuation provides a strategic viewpoint on how AI can be comprehensively integrated within audit management, leading to better automated models, forensic accounting, and beyond. No other book on the market takes such a wide-ranging approach to using AI in audit and accounting. With this guide, you’ll be able to build an innovative, automated accounting strategy, using artificial intelligence as the cornerstone and foundation. This is a must, because AI is quickly growing to be the single competitive factor for audit and accounting firms. With better AI comes better results. If you aren’t integrating AI and automation in the strategic DNA of your business, you’re at risk of being left behind. Accounting and auditing firms need a comprehensive framework for intelligent, automation-centric modernization. Artificial Intelligence for Audit, Forensic Accounting, and Valuation delivers just that—a plan to evolve legacy firms by building firmwide AI capabilities.
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
Subject Areas: Finance & accounting [KF]
