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Figuring Out: Future of Audit with AI and Data Lakes | Podcast #EP14 1 Credit

Figuring Out: Future of Audit with AI and Data Lakes | Podcast #EP14 1 Credit

  • Rating

    4.8
  • Published on

    October, 2024
  • Subject Area

    Auditing

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Learning Objective

  • Discuss the common issues around decentralized data management, inefficiencies from Excel-based workflows, and the risks associated with data silos.  
  • Explain the importance of building contextualized data lakes to manage structured and unstructured financial data, avoiding the creation of “data swamps. 
  • Explore how AI can improve the accuracy of financial audits by pre-calculating data and cross-correlating financial documents.  
  • Identify the advantages of using AI to automate routine audit tasks and identify anomalies.  
  • Review the need for standardized approaches to data management in the accounting industry.  
  • Explore the potential for continuous audits and how AI might eliminate manual processes. 

Course Overview

Imagine a world where manual processes and outdated data management systems no longer burden financial audits. How would your firm benefit from real-time data analysis and AI-driven automation?  

In this Episode, John Craig, CEO of Vigilant AI, discusses the transformative impact of artificial intelligence and machine learning in the audit space. We explore how financial data management is evolving through contextualized data lakes, automation, and AI-driven analysis and why it’s time for the accounting industry to embrace standardized approaches to data management. We’ll also discuss the role of AI in tackling decentralized data management challenges and the potential pitfalls of technologies like blockchain and data swamps.  

Key topics discussed: 

  • Data Lakes. 
  • Blockchain Limitations. 
  • Audit Efficiency. 
  • AI-Driven Automation. 

Whether you're an accountant, auditor, or business owner, this Episode offers practical insights into the future of audit innovation. Tune into this CPE Podcast to learn more about how Vigilant AI shapes the future of financial audits and where the industry is headed.

Podcast Credits

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Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study

Pre-requisites

None

Advance Preparation

None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

John Craig
John Craig

Chief Executive Officer (CEO), Vigilant AI

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John is the CEO of Vigilant AI, which he co-founded to help auditors and accountants leverage AI to more automate linking and testing business process documentation against accounting entries for higher quality outcomes. A graduate of the University of Waterloo, John has over 25 years of experience in bringing new technologies to market and had a previous senior role with the market leading audit analytics firm, MindBridge. A winner of the 2013 Ottawa Chamber of Commerce “40 Under Forty” Award, John proudly resides in Ottawa, Canada.

Saulsony
Saul Sony

Director - Partner Success, MYCPE ONE

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Saul Sony is the Director of Partner Success at MY-CPE, a leading continuing education platform serving professionals across Accounting, Tax, Audit, IT, Finance, and HR domains in the United States, Canada, and the United Kingdom. Saul’s dedication and expertise have been instrumental in advancing MY-CPE’s mission to provide high-quality, accessible, and affordable education to professionals worldwide. 

Under his leadership, MY-CPE has grown its offerings and reach, establishing itself as a leader in the field of professional education. Saul continues to explore new avenues to enrich the professional growth of thousands of learners, staying true to his passion for education and empowerment.

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Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

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To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

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To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

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