| Description |
1 online resource (xiii, 306 pages) : illustrations (some color) |
| Bibliography |
Includes bibliographical references and index. |
| 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 |
| Contents |
Cover -- Title Page -- Copyright -- Contents -- Preface -- Acknowledgments -- Part I Foundations for AI and Audit -- Chapter 1 Introduction: Staying Ahead of the Emergent Risk -- Killer Robots and Audit -- Building the Audit Function Around AI -- Staying Ahead of the Emergent Risk -- The Much-Needed Evolution of the Audit Firm -- The Claustrophobic Mini Universe of Audit -- The Problems with Today's Approach -- Enabling New Thinking in Audit -- Reinventing the Legacy Firm -- The Universe of Accounting -- The Game Plan -- References |
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Chapter 2 Fourth Industrial Revolution and Its Impact on Audit -- Fourth Industrial Revolution -- How Is the Cognitive Revolution Different from Previous Revolutions? -- You and the New Era -- Opportunities and Perils of the Fourth Industrial Revolution -- Sources of Competitive Advantage in the Fourth Revolution -- Audit Magnification -- Automation & equals -- 3 As (Audit, Activism, Assurance) -- References -- Chapter 3 What Is Artificial Intelligence? -- A Brief History of AI -- Launchpad Factors -- Data Science, Machine Learning, AI, and Everything Else -- Definition of AI -- Turing Test |
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Narrow VERSUS General AI -- View of the Enterprise -- Toolkit for Intelligent Audit Automation -- References -- Chapter 4 Rise of Machine Learning -- Power of Patterns -- What Is Machine Learning? -- Machine Learning Is Really Scientific Process on Steroids -- The Learning Machine -- Algorithms -- Accumulating Experience -- Techniques of Learning -- Supervised Learning -- Unsupervised Learning -- Reinforcement Learning -- Chapter 5 Machine Learning -- Models -- Features and Targets -- Model Induction -- Data -- Stop and Think! -- Supervised: Classification with Trees |
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Classification Using Mathematical Functions -- Supervised: Simple Linear Classifier -- Supervised: Support Vector Machine -- Supervised: Naïve Bayes -- Supervised: Bayesian Belief Networks -- Supervised: k-Nearest Neighbor -- Supervised: Regression -- Supervised: Multidimensional Regression -- Unsupervised -- Neural Networks -- Preprocessing the Data -- References -- Chapter 6 Building an IAA Audit Firm: The Planning Toolkit -- Why Plan and Design? -- Studying Agents -- Conclusion to Part One -- References -- Part II Building the Automated Audit Function in the Enterprise |
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Chapter 7 Obtain, Retain, and Preplan with AI -- Solving the Behavioral Problems in Audit -- Automated Preplanning Subprocesses -- Automated Pre-Engagement -- Automated Audit Planning -- Automated Pre-Engagement Activities and Work Tasks -- Pre-Engagement SADAL -- Examples of Machine Learning to Identify Deception -- Automated Audit Planning Activities and Work Tasks -- Automated Audit Planning SADALS -- Client Business Strategy Agents -- References -- Chapter 8 Automated Inherent Risk Assessment -- Total Audit Risk -- Inherent Risk -- Understanding the Business Problem |
| Subject |
Auditing -- Data processing.
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Forensic accounting.
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Valuation.
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Artificial intelligence.
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Evaluation.
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Juricomptabilité. |
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Évaluation. |
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Intelligence artificielle. |
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appraisals (financial records) |
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artificial intelligence. |
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Evaluation |
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Artificial intelligence |
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Auditing -- Data processing |
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Forensic accounting |
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Valuation |
| Other Form: |
Print version: Naqvi, Ali S., 1968- Artificial intelligence for audit, forensic accounting, and valuation. First edition. Hoboken : Wiley, 2020 9781119601883 (DLC) 2020021960 |
| ISBN |
9781119601937 (electronic book) |
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1119601932 (electronic book) |
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9781119601913 (electronic book) |
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1119601916 (electronic book) |
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9781119601906 (electronic bk.) |
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1119601908 (electronic bk.) |
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(hardcover) |
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