Intelligent Process Automation in Audit

Abstract

ABSTRACT Intelligent process automation (IPA) achieves flexible and intelligent automation by combining robotic process automation (RPA), artificial intelligence (AI), and other emerging technologies. This paper focuses on the utility of IPA for the audit profession. Specifically, this paper provides a framework for implementing IPA in audit engagements using the concept of audit workflow. A simple prototype based on a simulated use case is constructed to illustrate the IPA implementation framework. The potential applications of IPA in pension and inventory audits are provided, and the expected impacts of IPA on audit efficiency and effectiveness are discussed.