Determine the appropriate accounting for these contracts

Reference no: EM133610965

Question: Rightfit External Auditors are considering the use of Artificial Intelligence (AI) as a tool in their audit of Sunnyside Inc., a nationwide provider of cosmetic and beauty products. Specifically, the external auditing firm is interested in using artificial intelligence to review lengthy contracts the client has entered into. Some of the benefits of utilizing artificial intelligence in this scenario include: (Select all that apply.) review the audit report generated by the internal audit function for accuracy, before release to the general public. reviewing debt and loan covenant documents for key metrics and accounting issues that the external auditor needs to be aware of. the ability of the artificial intelligence model to continuously learn via auditor feedback, and thus improve model outputs and predictions. using artificial intelligence to identify key terms and clauses in the contracts, which may help to determine the appropriate accounting for these contracts.

Reference no: EM133610965

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