Artificial Intelligence for Audit, Forensic Accounting, and Valuation: A Strategic Perspective

Author: Al Naqvi
Publisher: John Wiley & Sons
ISBN: 9781119601883
Published In: July 2020
Format: Hardback , 320 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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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.

See how artificial intelligence can form the cornerstone of integrated, automated audit and accounting services
Learn how to build AI into your organization to remain competitive in the era of automation
Go beyond siloed AI implementations to modernize and deliver results across the organization
Understand and overcome the governance and leadership challenges inherent in AI strategy

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

AL NAQVI is the founder and CEO of the American Institute of Artificial Intelligence, the world's first AI business school. He is a pioneer researcher, scientist, entrepreneur, and innovator in artificial intelligence, data science, and machine learning in Audit, Assurance, Investment Management, Accounting, and Fintech applications. A former CFO, C-Level executive of Fortune 500 company, and a tech entrepreneur, he teaches Machine Learning and AI at the American Institute of AI.