AI Essentials for CPAs: Exploring Cutting-Edge Technology
Course Overview
This course provides an overview of Artificial Intelligence (AI) in accounting with a focus on its significance and evolution.  This course includes a detailed discussion of key AI concepts as well as ethical considerations, regulatory frameworks, and its use in data analysis and reporting.  This course also provides examples of how AI can be used in both audit and tax practices and provides strategies that can be used to most effectively implement its use in organizations.  This course concludes with a discussion of future trends in AI.      

Upon completion of this chapter, you will be able to:
    Identify key concepts related to AI
    Recognize subsets of machine learning
    Identify key characteristics of deep learning
    Recognize how AI can be used in the accounting profession
    Identify key differences in traditional vs. AI-driven accounting software
    Recognize examples of various types of AI accounting software
    Recognize ethical considerations in AI integration for accounting
    Identify regulatory frameworks governing AI integration in accounting
    Recognize data privacy and security concerns in AI-driven accounting
    Identify best practices for ethical AI usage in accounting firms
    Identify AI tools like OCR and NLP for data extraction
    Recognize AI algorithms for data cleansing
    Identify data normalization and AI techniques
    Identify AI-driven forecasting techniques for accurate predictions
    Recognize AI's role in audit planning and risk assessment
    Identify how AI can automate audit procedures
    Recognize AI techniques for detecting anomalies and fraud during audits
    Identify AI's application in compliance monitoring
    Recognize readiness factors for AI adoption in organizations
    Identify steps for integrating AI into existing processes and workflows
    Recognize the importance of training and upskilling employees
    Identify common challenges and strategies for AI adoption in organizations
    Recognize AI's role in tax preparation activities
    Identify how AI can assist CPAs in tax research
    Recognize how AI is being used by the IRS
    Identify how to write effective ChatGPT prompts when performing tax research
    Recognize key technologies shaping the future of AI for CPAs, including RPA and blockchain
    Identify the evolving role of AI in accounting practices and its impact on future job roles
    Identify potential legislation impacting the adoption of AI in accounting and finance
    Recognize the importance of understanding AI trends for CPAs to stay competitive

Revision Date:3/27/24

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
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