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The Cognitive Audit: The Effects of Cognitive Computing on Financial Audit Roles of Tomorrow

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Cognitive technology has been at the forefront of the minds of many technology, government, and business leaders, because of its potential to completely revolutionize their fields. Furthermore, individuals in financial statement auditor roles are especially focused on the impact of

Cognitive technology has been at the forefront of the minds of many technology, government, and business leaders, because of its potential to completely revolutionize their fields. Furthermore, individuals in financial statement auditor roles are especially focused on the impact of cognitive technology because of its potential to eliminate many of the tedious, repetitive tasks involved in their profession. Adopting new technologies that can autonomously collect more data from a broader range of sources, turn the data into business intelligence, and even make decisions based on that data begs the question of whether human roles in accounting will be completely replaced. A partial answer: If the ramifications of past technological advances are any indicator, cognitive technology will replace some human audit operations and grow some new and higher order roles for humans. It will shift the focus of accounting professionals to more complex judgment and analysis.
The next question: What do these changes in the roles and responsibilities look like for the auditors of the future? Cognitive technology will assuredly present new issues for which humans will have to find solutions.
• How will humans be able to test the accuracy and completeness of the decisions derived by cognitive systems?
• If cognitive computing systems rely on supervised learning, what is the most effective way to train systems?
• How will cognitive computing fair in an industry that experiences ever-changing industry regulations?
• Will cognitive technology enhance the quality of audits?
In order to answer these questions and many more, I plan on examining how cognitive technologies evolved into their use today. Based on this historic trajectory, stakeholder interviews, and industry research, I will forecast what auditing jobs may look like in the near future taking into account rapid advances in cognitive computing.
The conclusions forecast a future in auditing that is much more accurate, timely, and pleasant. Cognitive technologies allow auditors to test entire populations of transactions, to tackle audit issues on a more continuous basis, to alleviate the overload of work that occurs after fiscal year-end, and to focus on client interaction.

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2018-05

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WPC 101: Ethics Curriculum

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At a time when the national and world community is viewing collegiate business programs as complicit in many recent business scandals rooted in ethical violations and breaches of trust, improving ethics education is a high priority. Review of current research

At a time when the national and world community is viewing collegiate business programs as complicit in many recent business scandals rooted in ethical violations and breaches of trust, improving ethics education is a high priority. Review of current research on techniques for effectively teaching ethics highlights the importance of incorporating conversational learning, decision models, and relevant, personalized case discussions into undergraduate ethics lessons. Focusing exclusively on ethics education in the first-year business seminar WPC 101, we evaluated the current ethics/academic integrity module and found it to be lacking many research-supported techniques. To develop an updated curriculum, we first used the EthicsGame Ethical Lens Inventory in a survey of 114 W. P. Carey students to explore whether a connection between students' majors and primary ethical lenses would demonstrate the effectiveness of designing different, tailored ethics curricula for students in each major. Regression analysis of the survey responses indicated that this research was inconclusive for every major except for Accountancy, which already has a specific (upper-division) ethics course. This initial research stage led to the creation of a universally applicable ethics curriculum based on the Baird Decision Model. Incorporating techniques from the literature review, the new WPC 101 Academic Honesty & Ethics curriculum includes a presentation on the Baird Decision Model, a small-group discussion of a relevant ethical dilemma, and a class role play. The curriculum additionally includes detailed Facilitator Guidelines for educators. The curriculum was piloted in WPC 101 classes during Spring 2016, and we present student and facilitator feedback as well as suggestions for further research and improvement. Use of this research-backed curriculum and further study into its impact on student decision making will allow W. P. Carey to continue advancing in pursuit of training students to be effective ethical leaders.

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Date Created
2016-05

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Improving Life Outcomes for Children in Arizona: Educational Social Impact Bond

Description

"Improving Life Outcomes for Children in Arizona: Educational Social Impact Bond" is a creative project that is structured as a pitch to the Arizona Department of Education to consider social impact bonds as a way to fund pilot education programs.

"Improving Life Outcomes for Children in Arizona: Educational Social Impact Bond" is a creative project that is structured as a pitch to the Arizona Department of Education to consider social impact bonds as a way to fund pilot education programs. The pitch begins with a brief overview of the umbrella of impact investing, and then a focus on social impact bonds, an area of impact investing. A profile of Arizona's current educational rankings along with statistics are then presented, highlighting the need for an educational social impact bond to help increase achievement. The pitch then starts to focus particularly on high school drop outs and how by funding early childhood education the chances of a child graduating high school increase. An overview of existing early education social impact bonds that are enacted are then presented, followed by a possible structure for an early education social impact bond in Arizona. An analysis of the possible lifetime cost savings of investing in early childhood education are then presented, that are as a result of decreasing the amount of high school drop outs. Lastly, is a brief side-by-side comparison of the Arizona structure to the precedent social impact bonds.

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Date Created
2016-05

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A Community Perspective on Alcohol Education

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This thesis, entitled "A Community Perspective on Alcohol Education," was conducted over a ten month period during the Spring 2014 and Fall 2014 semesters, composed by Christopher Stuller and Nicholas Schmitzer. The research involved interviewing twelve professionals from Arizona State

This thesis, entitled "A Community Perspective on Alcohol Education," was conducted over a ten month period during the Spring 2014 and Fall 2014 semesters, composed by Christopher Stuller and Nicholas Schmitzer. The research involved interviewing twelve professionals from Arizona State University and the City of Tempe to gather a holistic view on alcohol education and alcohol safety as it involves the students at ASU. Upon completion of the interviews, recommendations were made regarding areas of improvement for alcohol education and alcohol safety at Arizona State University. These recommendations range from creating a mandatory alcohol education class to passing a Guardian Angel Law to creating a national network of alcohol education best practices. Through this thesis, the authors hope to prevent future alcohol related injuries, deaths, and tragedies. For the final display of this thesis a website was created. For the ease of reading, all information has been presented in text format.

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Date Created
2014-12

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Auditing Internal Controls: An Evaluation of Internal Controls in a Small Real Estate Firm

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This case study analyzed the internal controls of a real estate company using the widely accepted COSO framework. Testing of the internal environment and controls was completed using the COSO framework. The major internal control problem identified in the study

This case study analyzed the internal controls of a real estate company using the widely accepted COSO framework. Testing of the internal environment and controls was completed using the COSO framework. The major internal control problem identified in the study was a lack of ethical standards in the control environment. In addition to this main problem, inadequate documentation, no separation of duties, and unqualified employees were also identified as violations of effective internal controls. The department of real estate ordered a "cease and desist" on August 8, 2013 due to illegal company activities. The company participated in illegal actions regarding: the trust account and company documentation and procedures. Material weaknesses were found in the company's internal controls; therefore the result of this study was an adverse opinion on internal controls.

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Date Created
2013-12

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An Analysis of Income’s Role in the Arizona Public School Tax Credit

Description

Over the years from 2009 to 2017, the people of Arizona witnessed the state consistently defunding the schools, its students academically underperforming, and as a result, the poverty achievement gap widening. Even with the efforts in recent years to re-invest

Over the years from 2009 to 2017, the people of Arizona witnessed the state consistently defunding the schools, its students academically underperforming, and as a result, the poverty achievement gap widening. Even with the efforts in recent years to re-invest in education, Arizona’s education funding falls below its level at 2008 and the national average. Among Arizona’s funding sources is the Public School Tax Credit, a unique legislation for the state that allows for taxpayers to donate money to certain programs at Arizona public schools and reduce their state income tax liability dollar-for-dollar. Because of the already severe achievement gap in Arizona, this funding source which relies on surrounding neighborhoods’ income raises the concern that, instead of helping Arizona students, it is exacerbating the existing achievement gap. The purpose of this paper is to examine the relationship between income and donations received by schools to determine the validity of this concern. To ensure a comprehensive examination of the relationship between income and donations received, regression tests are run on both the aggregate level and individual level. The tests find that, although income does have a statistically significant correlation with the donations received, it is only positive for the effect of total income on total donations, negative for the effect of average income per return on average donation per donor, and negative for average income per return on total donations. The results imply that to garner high donations, it matters less to be located in a high-earning neighborhood and more important to be located in a moderate-earning neighborhood with a lot of people donating using this credit. Therefore, the concern of income’s effect on donations is valid, but perhaps not in the straightforward way that we would expect.

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Date Created
2020-12

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Founders Lab: Dough, a Financial Literacy Platform for Young Adults

Description

The goal of Dough is to create financial content that educates college students and young adults in areas of financial literacy. College students and young adults generally have debt from student loans, and typically don’t have much time to work

The goal of Dough is to create financial content that educates college students and young adults in areas of financial literacy. College students and young adults generally have debt from student loans, and typically don’t have much time to work as they focus on school and earn their degree. Financial literacy can make the lives of young adults much easier, however this is typically not a resource that is easily available to them. Our proposed solution to fight the lack of financial literacy is to create educational content including videos, articles, and a website that educates students and young adults on how to acquire good financial habits.

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Date Created
2022-05