Continuous Auditing with AI in the Public Sector

Lourens J. Erasmus, Sezer Bozkus Kahyaoğlu, Lourens J. Erasmus, Sezer Bozkus Kahyaoğlu

• Publisher: CRC Press
• Year: 2024
• Print ISBN: 9781032465197
• eBook ISBN: 9781040114308
• Edition: 1
• Topic: Business
• Subtopic: Artificial Intelligence (AI) & Semantics
• Index: Business

The effectiveness of internal audit activities is important for the sustainability of change in the public sector. In this sense, the tools and techniques used and the level of competencies of public sector auditors are decisive. This book deals with the effects of current technological developments in the public sector on auditing and risk management activities. Therefore, it is a resource for public internal auditors to create a digital audit strategy based on artificial intelligence (AI) and blockchain-based applications. Institutionalisation of their structures is important for public sector internal auditors. For this, basic requirements, future expectations, and best practices are explained. The digital business model is presented to produce value-added audit findings and outputs that guide public internal auditors and all digital-era stakeholders. This book is a pioneering work based on continuous auditing/continuous monitoring approaches using various AI and blockchain-based tools and techniques.

There is nothing more valuable to the success of a public internal auditor than a detailed understanding of the business. The important lesson in developing business knowledge, especially in the new audit universe emerging with digital transformation, is that all auditors must understand that they never finish learning about business processes, risks, and control points in the digital era.

They must constantly push themselves to be motivated and learn about the business operations they audit to implement new audit approaches powered by AI. In addition to obtaining up-to-date business information from process owners and stakeholders, public auditors responsible for conducting an AI-based continuous audit programme should also look inside their departments for a different perspective on business information that impacts continuous audit programme phase details and has the potential to add value. It should be noted that the additional source of information begins with your individual audit experience, digital skills, and qualifications.

Table of contents

• Cover
• Half-Title Page
• Series Page
• Title Page
• Copyright Page
• Table of Contents
• Foreword 1
• Foreword 2
• Editors
• List of Contributors
• Acknowledgement of peer reviewers
• Chapter 1 An assessment of the prospects of digital transformation in public sector internal auditing: How far will artificial intelligence go?
• Chapter 2 Background information about AI in accounting and auditing practice
• Chapter 3 New auditing perspectives for a blockchain-based accounting system in the public sector
• Chapter 4 The innovations in the public sector internal audit ecosystem
• Chapter 5 The emergence of algorithmic auditing in the public sector
• Chapter 6 The organizational needs and future expectations of public sector internal auditors
• Chapter 7 New audit reporting tools with AI-based implementation in the public sector
• Chapter 8 Digital skills of public sector auditors
• Chapter 9 Continuous auditing/continuous monitoring
• Chapter 10 The ethical perspective of digital auditing in public sector
• Chapter 11 The impact of AI on the sustainability in public sector internal auditing
• Chapter 12 Conclusion and future research recommendations
• Index