GenAI in the Audit

This case study has been designed to demonstrate how Generative AI can be effectively used across the audit lifecycle – risk assessment, controls assessment, substantive testwork, audit execution. This case study will also reinforce the need for professional judgment and skepticism to evaluate the outputs of Generative AI.

These materials are intended for use by undergraduate or graduate accounting faculty who are looking to show how GenAI can be used in the audit. Some prior knowledge of GenAI would be helpful to complete this case but is not required. However, students should have some audit foundational background. 

The case study provides students with the various input files that will be used in the completion of the case study exercises.

Learning Objectives:
The learning objectives of this GenAI-related case study are as follows:
1. Use GenAI to assist with various stages of the audit, including risk assessment, controls, substantive, and audit execution.
2. Recognize the benefits and the risks of using this technology for staff-level audit work.
3. Exercise appropriate professional judgment/skepticism in evaluating GenAI outputs.
4. Conclude and present your audit findings.