AI for IA - An introduction to artificial intelligence for internal auditors

Presented by Stephen Foster

Created specifically for internal auditors, this is a foundation course for those who are seeking to understand the fundamental concepts of the new wave of generative AI. It will explore what it means for them professionally, the challenges it poses for their organisation, the potential benefits and pitfalls of its use, and ultimately how they can quickly and easily start to use the technology to enhance their impact and productivity. The course also promotes idea exchange and network benchmarking between participants.

Who should attend?

This course will be of value to internal auditors who are curious about generative AI and would like to take their first structural steps into its use. Those that will benefit the most from the practical use cases in the course are those at the beginning of their journey with either no or limited exploratory exposure to generate AI models such as ChatGPT, Google Gemini, or Microsoft Co-Pilot for example. Heads of audit and those with leadership responsibility will benefit from the course as a stimulant for their AI strategy development and how to galvanise their teams on their AI journey.

What will I learn?

Upon completion you will be able to:

• define the basic concepts of generative AI
• identify standards and guidelines associated with the use of AI
• identify the various interaction points between AI and the internal audit team
• assess the risks and opportunities of generative AI, and what that may mean for internal audit teams
• review the key components of an effective AI strategy for internal audit
• identify and evaluate a portfolio of potential use cases for LLM generative AI in your teams
• explain the fundamentals of Prompt engineering for improved responses and content generation
• construct your own prompts and use generative AI models in the context of internal audit
• appraise and defend ideas and learnings with peers.

Course programme

What is AI and why now?

Generative AI in the internal audits technology landscape

Generative AI: Power and limitations

• AI risks, including privacy and security
• how to develop a framework to manage AI use in IA
• responsible AI. AI standards and regulation

Interaction points between AI and IA

• AI strategy for internal audit
• IA in an AI world – the same but different!

Using generative AI in internal audit for enhanced impact and productivity

• a virtual resource
• availability and types
• use case map
• getting started & Prompt Engineering

Use case deep dives

• A detailed look at specific use cases and their results.

CPE competency areas covered

• Performance (engagement fieldwork)
• Environment (information technology)

7 CPE points