AI and Continuous
Auditing
Presentation delivered at ISACA East African Security
Conference 2019
August 2019
Agenda
What is AI?
AI Adoption and Barriers
Continuous Auditing and AI
Q&A
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1
Executive
What is AI?
summary
History and
evolution of AI
State of AI
adoption
IT Risk and AI
Continuous
Auditing
Merging the two
concepts
Q&A
Company profile
What
Is AI?
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2
What is AI?
Understanding AI…
Learn
Sense
Think
Reason
Solve problems
Make decisions/ take action
Offer recommendations
Human Logic
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3
What is AI?
Understanding AI
Artificial intelligence refers to the ability of a computer or a computerenabled robotic system to process information and produce
outcomes in a manner similar to the thought process of humans in
learning, decision making and solving problems.
By extension, the goal of AI systems is to develop systems capable
of tackling complex problems in ways similar to human logic and
reasoning.
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4
What is AI?
Understanding AI
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5
What is AI?
Understanding AI…
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6
What is AI?
Company Profile
History and
evolution of AI
Our expertise
AI Adoption
Our
State
methodology
of AI &
Barriers
adoption
and
approach
Our transformation
commitment
IT Risk and AI
Your experienced
team
Continuous
Auditing and AI
Our audit approach
Merging the two
concepts
Our approach and
methodology
Q&A
Financial proposal
AI Adoption
and
barriers
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Company profile
Appendices
AI Adoption &
Barriers
AI Adoption
Use cases
AI has come
down to earth
and has gotten
to work
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Source: PwC Global AI Impact Index, 2018
8
AI Adoption &
Barriers
AI Adoption
Chatbots and intelligent
agents with voice
interfaces have received
more than $4bn in funding
AI is better at detecting
cancer using images by
performing deep learning.
AI has come
down to earth
and has gotten
to work
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Source: PwC Global AI Impact Index, 2018
9
AI Adoption &
Barriers
AI Barriers – readiness perspective
Cost
Cost implication of implementing AI-based solutions
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10
AI Adoption &
Barriers
AI Barriers – risk perspective
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11
What is AI?
History and
evolution of AI
AI Adoption
State
of AI &
adoption
Barriers
IT Risk and AI
Continuous
Relevant expertise
Auditing and AI
Continuous
Auditing
and
AI
PwC
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Name
experience,
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Merging the two
concepts
Q&A
Company profile
Continuous
Auditing and AI
Continuous Auditing
Continuous auditing defines the technologies and processes that allow an ongoing review and analysis
of business information on a real-time basis.
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13
Continuous
Auditing and AI
Continuous Auditing
Digitally fit audit functions are incorporating emerging technologies into the audit cycle.
Robotics and Process
Automation
•
•
•
•
Automated controls testing
Exception closure monitoring
Automated reporting and
dashboarding
Automated audit workflows
Data Analytics
Artificial Intelligence
•
•
•
•
•
•
•
•
•
Descriptive (What happened?)
Diagnostic (why it happened?)
Predictive (What will happen?)
Prescriptive (What should be
done?)
Cognitive (How do we adapt to
change?)
Pattern recognition
Textual analysis
Voice/audio analysis
Image and video
processing
Data Dependency
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14
Continuous
Auditing and AI
Continuous Auditing
Digitally fit audit functions are incorporating emerging technologies into the audit cycle.
Have you inventoried your
audit processes to identify
potential for robots or AI
solutions?
Have you weighed the cost
and benefit of RPA/DA/AI
for CA for your
organization?
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Do you have a robust data
governance structure which
ensures that your data is
standardized, labelled,
“clean” and centralized?
Do you have the right talent
pool or strategic alliances
with specialist partners to
create a digitally fit audit
function?
15
What is AI?
History and
evolution of AI
Continuous
State
of AI
adoption and AI
Auditing
IT Risk and AI
Continuous
Auditing and AI
Merging the two
concepts
An experienced
Q&A
and enthusiastic
team
Question
and
answer
session
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Company profile