Ricardo Gameroff
Partner, Kreston BA Argentina, Argentina
Ricardo is a fraud, audit and risk expert with over two decades at Ernst & Young (EY), where he served as an Audit and Forensics Partner across Canada, Chile, and Argentina. He led major clients in utilities, retail, manufacturing, and mining sectors, including Coca-Cola, McDonald’s, Siemens, Fluor Daniels, and others. Ricardo is a Certified Public Accountant (CPA) in the United States, Chile, and Argentina, a Certified Fraud Examiner (CFE), and holds an MBA designation. He’s also a university professor at Universidad de los Andes and a published author on occupational fraud.
AI in external auditing
April 12, 2024
AI in external auditing is significantly improving the efficiency and effectiveness of audit processes. Ricardo Gameroff discusses the impact of artificial intelligence in the field with Accountancy Daily. Read the summary below.
Enhancing external audit efficiency and precision
AI refers to systems capable of performing tasks that typically require human intelligence. These systems reduce the time needed for data analysis, allowing for faster and more accurate audits.
From data analytics to fraud detection
AI tools extend their utility to fraud detection and increase financial statement reliability. By processing entire datasets, these tools help auditors pinpoint inaccuracies and inconsistencies, ensuring the accuracy of financial reports.
Advantages of AI in auditing
AI automates routine tasks, shifting auditor focus to more critical areas that require nuanced judgment. This shift not only improves the efficiency of audits, but also their quality by minimising the potential for errors.
Addressing challenges and ethical considerations
The introduction of AI into auditing brings challenges such as the need for transparency and the avoidance of algorithmic bias. Effective AI implementation requires investment but is likely to yield substantial benefits.
Looking ahead
AI is a key driver in the evolution of auditing practices. It enables auditors to address the complexities of contemporary business environments more effectively and deliver enhanced value to clients.
For discussions on implementing AI in your audit processes, please get in touch.
