Programme Objective

Artificial Intelligence (AI) will be changing the face of accounting and auditing practices. It is timely for Chartered Accountants across all industries to be exploring how AI works within the accountancy field.

Whilst “Big Four” are in the process of experimenting with platforms, it will be insightful for those out in the field to anticipate the changing scenarios. Changes as may be brought about by applications, for example of adapting AI in auditing processes.

Yes, the big firms are confident that central controls remain with auditors. Yet there is no telling how far AI may go in ultimately displacing if not even replacing experts in accounting and auditing. AI processes are increasing being explored by leading, global accounting firms.

The concerned accountant ought to be asking:

• What is likely to be in store for me?
• How may I possibly be integrated as part of this change?
• Is there any way I can benefit from this change?
• What AI implementations may affect me?

An informed Chartered Accountant should at least be thinking out a strategy to ride the wave of this transformation.
 

Programme Outline

This program is structured in four main sessions. These sessions are designed to put a Chartered Accountant up-to-date on AI as a technology that is applied to the accounting profession.

Each session is presented around key themes: [1] Why? [2] Essentials; [3] Reviews; and [4] Strategizing. The goal is to enable the mind of the Chartered Accountant to be geared towards being prepared to handle the inevitable emergence of AI processes.

In particular, in grasping how AI properly implemented may even enhance the standing of this time-honoredprofession. No prior knowledge of AI is required for participants to benefit from this program.
 
4 MAIN SESSIONS
 
Session (1): 9.00 to 10.15 - Why AI for the Chartered Accountant?
 
This session addresses the issue of why AI is highly relevant for the accounting profession. For example, the increasingly popular use of drones to verify inventory, say of goods in warehouses or ships out in the sea and others.
         
Tea-break: 10.15 to 10.30
 
Session (2): 10.30 to 12.30 - Essentials of AI Technology
 
In this session, a discussion is made of the underlying technology of artificial intelligence: the neurons of the brain as a critical metaphor in structuring the processes of machine-based learning. Thus the “brains” of auditing firms are being trained to perform functions (machine learning). The resulting algorithms are then tested with samples. For accounting and auditing work the software utilized are natural languages.
 
Can the artificial brains be trained to appreciate aesthetics? Yes, from research at NTU as led by the Speaker.

 
Source: Foo CT et.al., Cognitive Neuronal Dynamics of Aesthetics,
International Journal of AI and Soft Computing, 2008
 
Lunch: 12.30 to 13.30
 
Session (3): 13.30 to 15.15 - Frontiers in AI Projects
 
AI was established, academically as (multi) discipline in 1950’s. Following Turing test (1950) a philosophy of artificial intelligences, machines that think, there had been interesting projects. This session however will focus on current, some on-going AI projects of relevance to accountants and auditors.
 

 
Source: Foo CT, Conceptualizing Frameworks for an Artificial Judging System,
International Journal of Technology, Knowledge and Society, 2006
 
 
 
Coffee-break: 15.15 to 15.30
 
Session (4): 15.30 to 17.00 - Strategizing Futures as CA
 
During this concluding session, participants as Chartered Accountants are urged to be thinking ahead. The Speaker suggests a new paradigm of seeing future firms as brains: those parts AI-able, those yet-to-be and parts impossible to AI away.
 

                       Brain of the Firm
    
Source: Foo CT and Lee TS, The Neural Firm,
Journal of High Technology Management

 

Youtube: https://youtu.be/XNQFU57dzPc
 

Training Methodology

This program is structured to be highly interactive with an emphasis on accountants and auditors to strategize in an environment of AI-embedded accounting and auditing.
 
[1] Lectures: Key concepts are presented in Dr FOO Check Teck’s down-to-style in lecturing. The idea is for accountants and auditors to grasp underlying working of AI technology.
 
[2] Gaining from Speaker’s AI Activities and Research: Few accountants and auditors are involved, “hands-on” in AI projects and research. Here is where Dr FOO Check Teck will share personal insights from his AI research.
 
[3] Explorations: During breaks and also in-between lecturing. Participants are encouraged to explore what new projects may be undertaken. Firms with specialization in certain areas may want to use AI to encapsulate their expertise.
 
[4] Discussion-styled Tutorials: This approach is utilized especially for enabling participants to grasp the underlying concepts behind on-going AI projects. To be discussed are their feasibility and likely impacts on accounting and auditing profession.
 
[5] Coaching-based approaches: It is possible that some accountants and auditors may already be about to embark on AI projects of their own. In these cases, Dr FOO Check Teck may provide some guidance on how to proceed with these projects.
 
Closing Date for Registration

1 week before programme or until full enrolment

Intended For

This Foundation to Intermediate level programme is intended all Practising and Non-Practising Accountants, Auditors and Finance professionals. No prior knowledge of AI is required for participants to benefit from this program.

Programme Facilitator(s)