Robot or cyborg hand taps finger on chart of trading data of forex stock exchange. App or software with artificial intelligence analysis business financial information on trade market. Tech Concept.

Navigating the AI revolution: What CPAs need to know

Uncover how artificial intelligence (AI) can empower the profession and help CPAs anticipate future needs with this three-part series developed in collaboration with the American Institute of Certified Public Accountants (AICPA).

Artificial intelligence (AI) is changing the landscape of the CPA profession, affecting financial systems, auditing processes and decision-making frameworks. This presents an opportunity for CPAs, who fall at the intersection of technological innovation and responsible AI governance to play a role in building trust and transparency in these systems. Often in executive leadership roles, CPAs are stewards of financial integrity and can lead the use of AI across a broad spectrum of business and operational applications. These papers are intended to empower CPAs, regardless of background or specialization, to effectively navigate the rapid evolution of AI and the challenges in its development and adoption.

Paper 1: Navigating the AI revolution: Key updates for today’s CPA  

Explore critical updates for CPAs on the evolution of AI, including current opportunities and challenges involving the technology and the CPA profession. This paper serves as a compass for CPAs navigating the AI ecosystem, from providing guidance on the nuances of machine learning to ensuring transparency in AI-driven decision making. Bonus: Stay ahead of the curve with our webinar on AI use cases, governance and implementation considerations developed with Financial Executives International Canada.

Key takeaways:

  • Evolution and pace of change in AI
  • Rise of generative AI, with specific use cases
  • Governing and controlling AI  
  • A futurist’s look at where the technology is headed

Download now

Paper 2: Closing the AI trust gap (Part 1): The pivotal role of CPAs in AI governance and risk management

As questions of trust arise, CPAs are well-positioned to lead the development and implementation of AI for financial use. This paper will promote understanding of governance and risk management practices for managing AI programs and building trust in the technology. Additionally, explore opportunities for CPAs as trusted business advisers tackling responsible implementation and management of AI technologies within organizations.

Key takeaways:

  • Key components of a robust AI governance framework
  • Setting policies and providing education and training
  • Role of voluntary guidelines, standards, laws and regulations in AI governance
  • An industry perspective on AI in finance

Coming Fall 2024

Paper 3: Closing the AI trust gap (Part 2): The role of CPAs in AI assurance

Understand the role that CPAs and assurance engagements can play in building trust in AI systems. This paper will explore defining AI assurance, the role of assurance standards and considerations for structuring an AI assurance engagement.

Coming Fall/Winter 2024