Event Details
Focus and Features
The current boom of Artificial Intelligence (AI) applications demonstrates seemingly endless ways in which organizations can leverage AI-driven technologies to enhance the way we work, while posing both numerous and significant risks that are inherent, given the nature of the technology.
AI can be a daunting topic for an internal auditor, especially as organizations' AI adoption and use continue to grow. Now more than ever, organizations are looking to internal audit for increased guidance on AI. Whether as an advisor on risks and controls related to AI, or in an
assurance role on processes that use or rely on AI, it is vital that the internal auditors increase their knowledge about AI.
This training introduces internal auditors to have a basic understanding of AI and its application, understanding of what an AI audit should look like and how to use the IIA's Auditing the Artificial Intelligence Framework.
The main objectives of this training are as follows:
- Provide participants with knowledge of AI and its role in business.
- Describe AI Auditing and IIA'S Artificial Intelligence (AI) Auditing Framework
- Understand key roles, responsibilities, and risks related to managing an organization's AI initiatives.
- Understanding IA's role as assurance service or advisory provider for IA related projects
- Plan, conduct, report, and follow up on Artificial Intelligence audits effectively.
- Utilize risk management principles in the context of Artificial Intelligence processes.
Through team exercises, group discussions, case studies and lectures, attendees will gain a foundation of knowledge that will allow Internal Auditors in auditing artificial intelligence. A basic understanding of the roles of risks and internal controls will also be stressed, along with interpersonal and team-building skills.
What You Will Learn
I. Introduction
- Definition of Artificial Intelligence (AI)
- Evolution of AI
- Types of AI
- Ways to categorize AI
- Definition of Terms
- Generative AI
II. Artificial Intelligence (AI) Audit
- What is an AI Audit?
- How are AI audits used?
- Why audit AI systems?
- AI legislations and regulations e.g. GDPR, UK ICO
III. The Institute of Internal Auditors (IIA) AI Auditing Framework
- Governance
- Strategy
- Management- First and Second Line of Defense
- Policies and Procedures
- IT Resources to Support AI
- Staffing and Training
- Execution- First and Second Line of Defense
- IA Assurance and Advisory Services
IV. Audit Criteria, Scope, and Objectives
- Establishing Audit Criteria and Scope
- Setting Audit Objectives
V. Risk-Based Auditing in Artificial Intelligence
- Identifying Risks in Artificial Intelligence e.g. bias, privacy, cybersecurity, intellectual property
- Assessing Risks in Artificial Intelligence
- Incorporating Risk Management into Audit Planning
VI. Conducting Artificial Intelligence Audits
- Interviewing Techniques
- Document Review and Analysis
- Observation and Sampling
VII. Reporting and Communicating Audit Findings
- Conducting Opening and Closing Meetings
- Engagement results
- Conclusions
- Recommendations, and/or action plans
VIII. Case Studies: Practical Applications
IX. Seminar Conclusion
- Plan for Action
Who Should attend
This seminar is ideal for all auditors who are conducting audits within organizations, interested in incorporating AI tools and techniques into their audit processes.
Number of CPE units: 7
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