Does Artificial Intelligence Help Reduce Audit Risks?

Oksana Adamyk; Vladlena Benson; Bogdan Adamyk; Haider Al-Khateeb; Anitha Chinnaswamy

doi:10.1109/ACIT58437.2023.10275661

Does Artificial Intelligence Help Reduce Audit Risks?

Oksana Adamyk, Vladlena Benson, Bogdan Adamyk^*, Haider Al-Khateeb, Anitha Chinnaswamy

^*Corresponding author for this work

Research output: Chapter in Book/Published conference output › Conference publication

Abstract

This article aims to discover how AI-powered systems facilitate auditing, what risks emerge for AI-assisted audits and how to deal with these new risks. The paper studies the impact of cognitive computing on audit risk. AI-powered software is capable of self-learn so that it can identify patterns in data and codify them in predictions, rules and decisions. This self-learning ability can become both a benefit and, at the same time, insecurity. Although AI-self-learning helps make the process more efficient and calculations more accurate by improving the algorithm, eliminating errors and reducing risks, it creates new previously unknown threats. We discovered inherent limitations of cognitive-based technologies and risks for the audit process associated with using AI systems. We also proposed a complex security model that can reduce the uncertainty of AI-enabled audit and provides insight into future research opportunities.

Original language	English
Title of host publication	2023 13th International Conference on Advanced Computer Information Technologies, ACIT 2023 - Proceedings
Publisher	IEEE
Pages	294-298
Number of pages	5
DOIs	https://doi.org/10.1109/ACIT58437.2023.10275661
Publication status	Published - 17 Oct 2023
Event	13th International Conference on Advanced Computer Information Technologies - Wrocław, Poland Duration: 21 Sept 2023 → 23 Sept 2023 http://acit.wunu.edu.ua/

Publication series

Name	2023 13th International Conference on Advanced Computer Information Technologies, ACIT 2023 - Proceedings

Conference

Conference	13th International Conference on Advanced Computer Information Technologies
Abbreviated title	ACIT 2023
Country/Territory	Poland
City	Wrocław
Period	21/09/23 → 23/09/23
Internet address	http://acit.wunu.edu.ua/

Bibliographical note

Copyright © 2023, IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.

Keywords

artificial intelligence
machine learning
automation
audit
risk

Access to Document

10.1109/ACIT58437.2023.10275661

Cite this

Adamyk, O., Benson, V., Adamyk, B., Al-Khateeb, H., & Chinnaswamy, A. (2023). Does Artificial Intelligence Help Reduce Audit Risks? In 2023 13th International Conference on Advanced Computer Information Technologies, ACIT 2023 - Proceedings (pp. 294-298). (2023 13th International Conference on Advanced Computer Information Technologies, ACIT 2023 - Proceedings). IEEE. https://doi.org/10.1109/ACIT58437.2023.10275661

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title = "Does Artificial Intelligence Help Reduce Audit Risks?",

abstract = "This article aims to discover how AI-powered systems facilitate auditing, what risks emerge for AI-assisted audits and how to deal with these new risks. The paper studies the impact of cognitive computing on audit risk. AI-powered software is capable of self-learn so that it can identify patterns in data and codify them in predictions, rules and decisions. This self-learning ability can become both a benefit and, at the same time, insecurity. Although AI-self-learning helps make the process more efficient and calculations more accurate by improving the algorithm, eliminating errors and reducing risks, it creates new previously unknown threats. We discovered inherent limitations of cognitive-based technologies and risks for the audit process associated with using AI systems. We also proposed a complex security model that can reduce the uncertainty of AI-enabled audit and provides insight into future research opportunities. ",

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Adamyk, O, Benson, V , Adamyk, B , Al-Khateeb, H & Chinnaswamy, A 2023, Does Artificial Intelligence Help Reduce Audit Risks? in 2023 13th International Conference on Advanced Computer Information Technologies, ACIT 2023 - Proceedings. 2023 13th International Conference on Advanced Computer Information Technologies, ACIT 2023 - Proceedings, IEEE, pp. 294-298, 13th International Conference on Advanced Computer Information Technologies , Wrocław, Poland, 21/09/23. https://doi.org/10.1109/ACIT58437.2023.10275661

Does Artificial Intelligence Help Reduce Audit Risks? / Adamyk, Oksana; Benson, Vladlena ; Adamyk, Bogdan et al.
2023 13th International Conference on Advanced Computer Information Technologies, ACIT 2023 - Proceedings. IEEE, 2023. p. 294-298 (2023 13th International Conference on Advanced Computer Information Technologies, ACIT 2023 - Proceedings).

Research output: Chapter in Book/Published conference output › Conference publication