(MENAFN- The Peninsula)
The Peninsula
Doha: The Ministry of Commerce and Industry, in partnership with Qatar University and Ernst & Young Global Consulting Services, organised a workshop for auditors at the Ministry's headquarters in Lusail.
The workshop focused on applying Artificial Intelligence technologies in auditing, introducing participants to AI concepts and enabling them to utilise AI tools to enhance the quality and efficiency of their work, keeping pace with emerging technological innovations.
This initiative is part of the Ministry's ongoing efforts to advance the auditing profession, regulated by Law No. (8) of 2020 on the Regulation of the Auditing Profession.
The workshop is designed to enhance auditors' capabilities and support their performance ensuring the accuracy and reliability of financial reports.
During the workshop, the role of AI in business and its impact on developing auditing practices was explored by comparing traditional and modern approaches.
Practical examples of AI applications in auditing, such as data collection and analysis, were presented to demonstrate how they improve accuracy and reliability.
Additionally, the session highlighted AI's role in risk management, real-time risk assessment, and detecting irregularities, including its applications in cybersecurity audits and fraud detection.
Participants examined the transformative effect of AI on auditors' responsibilities, emphasising the need to reshape their professional roles by developing digital and analytical skills to adapt to technological changes.
The workshop also featured case studies and professional experiences in applying AI to auditing and risk management.
The workshop addressed challenges associated with adopting AI in auditing, including resistance to change by individuals and organisations favouring traditional methods.
Despite these challenges, the workshop outlined the opportunities AI presents for improving audit quality and expanding professional growth prospects for auditors.
The event concluded with an open discussion session, where experts addressed participants' inquiries and challenges in applying AI technologies within their fields.
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