This module takes a holistic view of accounting and finance and the evolution from traditional to digital models. These changes necessitate new and more relevant ways of approaching the profession and dealing with the challenges associated with technology-driven finance and accounting business models. This module provides a brief overview of different technology types, and then details their use and business implications.
Continuous auditing is the product of electronic data processing and audit automation. This module is designed to give an introductory overview of the continuous auditing framework. The module illustrates how the continuous audit framework is evolving over time, the stages and processes of continuous audit, and how continuous audit is different from the traditional audit.
This module presents the background of blockchain technology and its internal design, including how hash functions and chain structure work in blockchain. The module also illustrates how a smart contract is designed with blockchain technology and its application in business, particularly in accounting.
Automation is a technology by which a process or procedure is executed with minimum human assistance. The application of automation is increasing its popularity in both accounting and auditing. This module introduces the basic concepts of automation, with emphasis on Robotic Process Automation (RPA), comparisons between traditional automation and RPA, the combination of RPA and AI, and the current state of RPA.
Artificial Intelligence (AI) and its underlying component, Machine Learning (ML), are integrated into every facet of our lives – from healthcare to our homes. Many companies have relied on AI to drive the success of their businesses. This module introduces students to the benefits of AI and shows its current business applications and potential uses in the accounting and audit domains. Each of the major AI types is covered in detail with descriptions and examples.