This review work makes significant contributions to both theoretical and practical areas. For theory, it identifies unexplored study areas (research gaps), hence influencing future research orientations and theoretical underpinnings. Furthermore, this review contributes to the development of a theoretical framework (CACS), which will help stakeholders comprehend and conceptualize the use of AI in the IAF and can serve as a foundation for future research. In reality, this study assists internal auditors in assessing and understanding the possible benefits and risks of using AI in their organization's IAF.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Artificial Intelligence
- Research Questions
- Literature Review
- Technology
- Internal audit function
- An Investigation of Artificial Intelligence Application in Auditing
- Artificial Intelligence and Ethical Professional Judgments in a Small Audit Firm Context
- Artificial intelligence application in auditing
- Ethics, Artificial Intelligence, Auditing
- Artificial Intelligence (AI) in the Education of Accounting and Auditing Profession
- Opportunities for developing artificial intelligence in tuning the quality of internal auditing
- Artificial intelligence and auditing in small- and medium-sized firms
- Framework Addresses Critical Factors
- Al Governance
- Data Architecture and Infrastructure
- Data Quality
- Measuring Performance of Al
- The Human Factor
- The Black Box Factor
- Al - The Basics
- Al Opportunities and Risks
- Opportunities
- Risks
- Internal Audit's Role
- Al Competencies: Filling the Understanding Gap
- Al Auditing Framework
- Strategy
- Al Governance
- Data Architecture and Infrastructure
- Data Quality
- Measuring Performance of Al
- The Human Factor
- The Role of Artificial Intelligence in Auditing
- Recent trends related to the topic
- Results
- Conclusions
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This review examines the impact of artificial intelligence (AI) on the Internal Audit Function (IAF) and identifies research gaps in the literature. It aims to provide a theoretical framework for understanding the use of AI in IAF and offer practical insights for internal auditors, regulators, and businesses. The review also highlights new skills required to embrace and effectively apply AI in auditing, and discusses the benefits and risks associated with AI implementation.
- The role and potential of AI in transforming the IAF
- The benefits and risks of AI implementation in IAF
- The need for new skills and competencies to embrace AI in audit practices
- The development of a theoretical framework for understanding the integration of AI into IAF
- Identifying research gaps and opportunities for future research in the field of AI and IAF
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction discusses the increasing use of AI in the public sector, particularly in internal audits. It highlights the challenges of managing large volumes of data related to personal information, public tenders, and contracts, and emphasizes the need for AI-powered solutions. The chapter also explores the importance of strong governance structures and the crucial role of the IAF in providing independent assurance and promoting innovation.
The chapter on Artificial Intelligence discusses the impact of globalization and Industry 4.0 on the use of AI in various industries. It examines the debate surrounding AI and its potential to replace human workers, and explores the increasing reliance on AI-powered tools for data analysis in businesses like consumer management, retail, finance, and marketing.
The chapter on Research Questions identifies the study's main research questions, focusing on the current state of research on AI in IAF and exploring future research directions. It outlines the methodology used to identify research gaps and emerging trends in the field.
The chapter on Technology examines the concept of competitive advantage and its application to AI-driven innovations. It discusses Porter's value chain analysis and the resource-based view (RBV) of the firm, highlighting the importance of valuable, scarce, and inimitable resources in achieving sustainable competitive advantage.
Schlüsselwörter (Keywords)
The main keywords and focus topics of the text include: artificial intelligence (AI), internal audit function (IAF), competitive advantage, resource-based view (RBV), data analysis, audit analytics, public sector, governance, risk management, and innovation.
- Quote paper
- Ph Zygoulis (Author), 2024, Artificial intelligence and the future of the internal audit function, Munich, GRIN Verlag, https://www.grin.com/document/1499142
