Harnessing Artificial Intelligence in Internal Auditing: Implementation, Impact, and Innovation

Given the influence of artificial intelligence (AI) on various sectors of the economy, its impact on the internal auditing sector is causing increased attention from the academic and professional communities. This book chapter investigates how AI is revolutionizing internal audit and its implications for the future of internal audit. By examining numerous literature sources and developments from various perspectives, this book chapter conducted a comprehensive analysis of how AI is applied in various processes of internal auditing. In the current data-reliant business society, AI's capacity to handle vast datasets and perform complex analyses plays an important role. The use of AI in internal auditing enhances efficiency, increases accuracy, and improves risk management. However, in the process, audit procedures fundamentally change. This book chapter concludes that while AI will significantly change the internal auditing process, it will not replace human auditors. AI will alter auditing jobs by requiring auditors to learn additional technology.