You can be on Entrepreneur’s cover!

Artificial Intelligence Is Going To Be a Game Changer In Audit Space, Says Government Auditor G C Murmu Murmu reportedly highlighted that it's again crucial for SAIs to build the necessary skills to examine information system controls, given the shift to electronic processing and computerized systems in public sector entities

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

G C Murmu, comptroller and auditor general of India (CAG), on Tuesday, said that artificial intelligence (AI) is going to be a game changer in the public audit space as it will help in quicker and more detailed analysis during both planning and execution stages, according to a PTI report.

While addressing the Shanghai Cooperation Organisation (SCO) and Supreme Audit Institutions (SAI) Leaders meeting, where eight high-level SCO delegates participated, CAG said that the potential benefits of applying AI techniques to the audit processes are substantial and have already been identified through several use cases. The meeting was conducted to deliberate on issues related to cyber security and artificial intelligence, and the role of auditors of the SCO nations.

"Our intent is to use AI not as a one-time solution for a specific audit, but to build an evolving AI model that will allow for quicker and more detailed analysis during both the planning and execution stages through risk assessment straddling multiple parameters and a far more comprehensive evaluation than afforded through sampling," he said in a statement.

Murmu reportedly highlighted that it's again crucial for SAIs to build the necessary skills to examine information system controls, given the shift to electronic processing and computerized systems in public sector entities.

"As shared by SAI India in this meeting, our cybersecurity audit teams focus on various key areas/including third-party management, governance aspects, documentation, user access controls, and legal compliance," he said as per the report

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Leadership

You Won't Have a Strong Leadership Presence Until You Master These 5 Attributes

If you are a poor leader internally, you will be a poor leader externally.

Branding

94% of Customers Say a Bad Review Made Them Avoid Buying From a Brand. Try These 4 Techniques to Protect Your Brand Reputation.

Maintaining a good reputation is key for any business today. With so many people's lives and shopping happening online, what is said about a company on the internet can greatly influence its success.

Business News

Samsung Makes 6 Day Workweeks Mandatory for Executives as the Company Enters 'Emergency Mode'

Samsung said its performance "fell short of expectations" last year. Now executives are required to work weekends.

News and Trends

IT Firm Happiest Minds Technologies Acquires Macmillan Learning India

The deal will likely be finished by April 30 and will cost INR 4.5 crore.

Resumes & Interviewing

Build a Better Resume with This $35 Subscription

AI Resume Builder promises to help you apply to jobs twice as fast.

Starting a Business

6 Effective Funding Strategies for Startups

Navigating startup financing is complex. Entrepreneurs find themselves at the crossroads of innovation and survival, where a single decision can either fuel their dreams or extinguish their aspirations. Here we look at six ways you can finance your startup to support your business for long-term success.