Keywords

ChatGPT, internal auditing, generative AI, prompt, audit process

Abstract

For the past several years, internal audit functions (IAFs) have been significantly increasing their digitization efforts to enhance the efficiency and effectiveness of the IAF. The introduction of ChatGPT has increased the potential for IAFs to have a more significant impact; however, there is little guidance on how ChatGPT can influence the day-to-day work of internal auditors. This paper demonstrates with specific examples how ChatGPT can be used to enhance all aspects of the audit process. While not comprehensive in nature, the detailed, illustrative examples should help internal auditors see actionable steps they can take to be more efficient and effective and thus add more value to their organizations. Finally, it helps researchers to identify potential avenues for future research.

Original Publication Citation

Eulerich, M., and D. A. Wood. 2024. A demonstration of how ChatGPT can be used in the internal auditing process. Journal of Emerging Technologies in Accounting, 2024.