Audit Committee Effectiveness: A Webinar Series
Welcome to Audit Committee Effectiveness: a webinar series brought to you by the Center for Audit Quality and the National Association of Corporate Directors. The series explores key takeaways and insights from leaders in the financial reporting ecosystem alongside resources developed to aid audit committees and public company board members. Stay tuned to this page for information about topics, participants, and how to register for upcoming webinars.
In our initial AI 101 for Audit Committees webinar, we tackled how recent advancements, powered by the likes of OpenAI’s ChatGPT and Google’s Gemini, has captured the attention of corporate leaders around the world. Corporate boards are focusing on better understanding the technology and establishing guardrails to ensure risks of information security, data quality, hallucinations, and other areas are appropriately managed.
Now, in the second of a 2-part series, speakers Richard Jackson (Global Artificial Intelligence Assurance Leader, EY) and Cory Hrncirik (Modern Finance Lead, Microsoft) join us again with Tom Petro (Managing Partner, Capital Partners & Audit Committee Member) to discuss how things have evolved in just the past 8 months.
We’ll discuss the evolving role of the audit committee, including oversight of both management and the external auditor. We’ll dive into such questions as:
- Does the company have the requisite expertise to select, develop, deploy, and monitor genAI technologies?
- Who (individual or group) in the company is responsible for oversight of the use of genAI?
- Does the company have a process to track and monitor the use of genAI throughout the company, including use by third-party service providers?
- What is the auditor’s understanding of the financial reporting implications of the company’s use of genAI technologies?
- Does the company’s use of genAI technologies have a significant impact on the planned audit scope?
- Has the auditor identified any fraud risks related to the company’s use of genAI technologies? How has the auditor addressed such risks in the audit?
Note: CPE available only to participants who joined the live webcast.
See the CAQ’s resources for more information: Auditing in the Age of Generative AI and Audit Committee Oversight in the Age of Generative AI.
