Using AI for SOX Testing Self-Study Webinar
Overview
Companies must continue to find ways to comply with SOX 404 requirements in order to remain cost effective and maintain healthy business growth. Recent advancements in AI tools have already begun changing the game for business finances by automating, accelerating, and generally improving many aspects of the SOX life cycle, including:
- Risk assessment
- Controls testing
- Streamlining compliance processes
- Reductions in cost
SPEAKERS:
Ryan Cooksey, Senior Emerging Technology Strategy & Governance, Ernst & Young
Emma Hashemi, Senior Technology Risk Consultant, Ernst & Young
Emphasis
- Understanding Artificial Intelligence
- Necessary Conditions to Build Trustworthy AI
– Ethics
– Social responsibility
– Accountability
– Reliability - Establishing a Governance Framework
- Handling AI Responsibly
- Risk & Governance Considerations
- Application in Finance & Accounting
- AI Use Cases
- Regulatory Insights
– Global trends
– Authoritative guidance
– Institute of Internal Auditors (IIA) AI auditing framework - Risk-Based Assurance Framework
Detailed Learning Objective
DETAILED LEARNING OBJECTIVES
• Define artificial intelligence and recognize its ability to mimic human judgment to improve processes
• Identify the role of large language models in processing and generating human-like text
• Recognize key principles included in a Responsible AI framework
• Identify who is responsible for establishing AI governance within an organization
• Recognize how AI is used to assist in financial reporting and audit preparation
• Identify business value considerations that support AI adoption
• Recognize AI use cases specifically applicable to SOX control testing
• Understand the regulatory trend toward risk-based approaches for AI oversight
• Identify potential governance risks when implementing Generative AI
• Recognize data privacy risks associated with the use of GenAI models in financial reporting
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