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ICAI plans to use AI to identify non-compliances in financial statements
Non-Compliance with regard to Financial Statements is of important matter of concern from the point of view of Corporate Governance. Such non-compliances may become cause of financial sickness and/or systematic fraud in an organization. Using loopholes of Rules & Regulations and various tactics, bending and hiding of crucial information are done achieve to undue benefits.
To curb such practices, ICAI is planning to use latest technological in advancement in computer technology i.e. Artificial intelligence. AI can be trained to indentify such non-compliances and related trends.
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