Source : CPA Journal (https://www.cpajournal.com/2020/07/16/icymi-machine-learning-in-auditing/)
Machine learning provides the potential for significant improvements in audit speed and quality. Machine learning is a key subset of artificial intelligence (AI), which originated with the idea that machines could be taught to learn in ways similar to how humans learn. The proliferation of data, primarily due to the rise of the Internet and advances in computer processing speed and data storage, has now made machine learning a significant component of modern life. Common examples of machine learning can be found in e-mail spam filters and credit monitoring software, as well as the news feed and targeted advertising functions of technology companies such as Facebook and Google.
Machine learning technology for auditing is still primarily in the research and development phase. Although there are limitations to the current capabilities of machine learning, it excels at performing repetitive tasks. Because an audit requires a vast amount of data and has a significant number of task-related components, machine learning has the potential to increase both the speed and quality of audits. The machine-based performance of redundant tasks should allow auditors more time for review and analysis, which would give them a greater ability to focus on the areas of greatest risk, as well as a better understanding of the larger picture.
Among the functions of Machine Learning technology that can be applied in auditing are:-
Date of Input: 25/07/2022 | Updated: 25/07/2022 | nurmiera
Tingkat 2,
Blok F, Bangunan Sekolah Perniagaan dan Ekonomi(SPE),
Jalan Persiaran Tulang Daing,
Universiti Putra Malaysia,
43400 Serdang.