Matching Items (6)
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- All Subjects: Accounting
- All Subjects: Audits
- Creators: Call, Andy
Description
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.
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.
ContributorsWitkop, David (Author) / Dawson, Gregory (Thesis director) / Munshi, Perseus (Committee member) / School of Accountancy (Contributor) / Department of Information Systems (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
Developed a business product with a team of CS students.
ContributorsSchneider, Kaitlin (Co-author) / Perri, Cole (Co-author) / Hernandez, Maximilliano (Co-author) / Call, Andy (Thesis director) / Hunt, Neil (Committee member) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
Developed a business product with a team of CS Students
ContributorsHernandez, Maximilliano (Co-author) / Schneider, Kaitlin (Co-author) / Perri, Cole (Co-author) / Call, Andy (Thesis director) / Hunt, Neil (Committee member) / School of Accountancy (Contributor) / School of Sustainability (Contributor) / Department of Information Systems (Contributor) / Department of Management and Entrepreneurship (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
Developed a business product with a team of CS students.
ContributorsPerri, Cole Thomas (Co-author) / Hernandez, Maximilliano (Co-author) / Schneider, Kaitlin (Co-author) / Call, Andy (Thesis director) / Hunt, Neil (Committee member) / School of Accountancy (Contributor) / Watts College of Public Service & Community Solut (Contributor) / WPC Graduate Programs (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
The purpose of the ACC / CSE Thesis Project is to develop a solution that simplifies the process of financial reporting. Through our extensive research and experience with designing a project to simulate the life cycle of a conceptual user initiative, we have created a product that transforms these ideas into results. Rather than relying on the expertise of external consultants who are often expensive, the product strives to provide users with an affordable solution to educate and apply financial reporting standards in accordance with IFRS and GAAP.
ContributorsDammann, Cayla (Author) / Marshall, Brenden (Co-author) / Call, Andy (Thesis director) / Hunt, Neil (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / School of Accountancy (Contributor) / School of Public Affairs (Contributor)
Created2023-05
Description
In 2016, the Financial Accounting Standards Board (FASB) imposed on managers a responsibility to evaluate their companies’ forward-looking prospects for continuing as a going concern on a quarterly basis. Prior to this change, the responsibility of assessing the future of a company was only required annually by the external auditor through auditing standards. If this increase in management responsibility induced managers to implement a process and controls to obtain forward-looking information for disclosure, I would expect this information acquisition process to also improve overall financial reporting quality. I find that financial reporting quality increased for firms after Accounting Standards Update (ASU) 2014-15, as evidenced by less restatements. Additionally, while I find the timeliness of information decreased, as evidenced by slower earnings announcements, the decrease is not economically meaningful. Lastly, I find the effect of the standard change on financial reporting quality is greater for non-financially healthy companies who have to perform a more extensive analysis under ASU 2014-15. While the purpose of the accounting standard was to reduce diversity in the timing and content of going concern disclosures, I find evidence of other benefits with little costs that this standard had on firm’s financial reporting.
ContributorsMatkaluk, Lauren (Author) / Lamoreaux, Phillip (Thesis advisor) / Kaplan, Steve (Committee member) / Call, Andy (Committee member) / Arizona State University (Publisher)
Created2023