After reviewing this video involving artificial intelligence and automation from EY Global https://youtu.be/Rz0_ynXyWs0 (Links to an external site.)
, answer the following questions:
Required:
- Discuss what are business intelligence, automation, and data analytics? In what ways can auditors use these tools to help in an audit?
- Several examples are discussed in applying AI and automation in auditing. Choose one example and share your thoughts on how this process may change the way auditors work.
- If you were hired as an auditor, what strategies would you use to incorporate artificial intelligence into your role? Provide examples of the resources you may use.
Your deliverable should be 3-4 pages in length. Please type your response in a Word document and follow APA format, according to CSU Global Writing Center (Links to an external site.). Include a title page and reference page. Use two (2) outside academic sources other than the textbook, course materials, or other information provided as part of the course materials.
Requirements: 3-4 Pages not counting cover or reference pages
Answer preview
Business intelligence (BI) is a technology-driven process that an organization utilizes to analyze its business data, thus delivering actionable information that helps the organizational management and employees make rational decisions. On the other hand, automation entails applying technologies to produce goods or services with minimal human intervention (Salur & Kattar, 2018). Data analytics is the process that helps individual’s organizations to draw conclusions from raw data. It is the process that helps that individuals or organizations utilize to analyze datasets with the aim of finding trends and draw conclusions about the information they contain. The above-described tools are valuable to auditing firms or auditors. These tools h can help auditors to analyze the organization’s financial data and other types of data and identify the patterns that may be valuable in the decision-making process. It enables auditors to examine organization data within the shortest period, thus accelerating the decision-making process.
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