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AI Training for Finance Professionals: Controls, Audit Trails and Numbers You Can Sign

External Audit Expectations About AI in Finance Processes

Quiz: External Audit Expectations About AI in Finance Processes

Tax, Regulatory Filings and Automated Preparation Risk

Quiz: Tax, Regulatory Filings and Automated Preparation Risk

Confidentiality and Price Sensitive Information in Prompts

Quiz: Confidentiality and Price Sensitive Information in Prompts

Vendor Tools in the Finance Stack and What to Check

Quiz: Vendor Tools in the Finance Stack and What to Check

Documenting AI Use for the Audit Committee

Quiz: Documenting AI Use for the Audit Committee

Building a Finance AI Control Matrix

Quiz: Building a Finance AI Control Matrix

Final exam: AI Training for Finance Professionals: Controls, Audit Trails and Numbers You Can Sign

2 of 2

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Quiz: Tax, Regulatory Filings and Automated Preparation Risk

AI Training for Finance Professionals: Controls, Audit Trails and Numbers You Can Sign
Tax, Regulatory Filings and Automated Preparation Risk
Quiz: Tax, Regulatory Filings and Automated Preparation Risk

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Question 1 of 5

1. Question

Why is tax preparation considered higher-risk for AI than other accounting processes?

Tax preparation is not high-risk
Correct Incorrect Correct answer

Tax law is rules-based but also requires judgment; AI can apply rules but cannot make judgment calls reliably
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Tax preparation involves no regulations
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AI is perfect at tax law
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Question 2 of 5

2. Question

What is the appropriate use of AI in tax return preparation?

Give AI the raw data and let it produce the complete return without review
Correct Incorrect Correct answer

Use AI to speed up mechanical steps (data aggregation, calculation), but reserve classification and judgment decisions to qualified tax professionals
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Never use AI in tax preparation
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Use AI only for small transactions
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Question 3 of 5

3. Question

What four categories of risk are most relevant in AI-assisted tax preparation?

Only speed and cost
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Completeness of data captured, classification of transactions, valuation of assets and regulatory change
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Only filing deadlines
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Only mechanical errors
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Question 4 of 5

4. Question

What should be documented when AI produces a draft tax return?

Nothing, it is just a draft
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What data was input, what the system produced, who reviewed it, what changes were made and why
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Only the final filed version
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Only errors that were caught
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Question 5 of 5

5. Question

Why are transfer pricing and provisions particularly high-risk areas for AI in tax?

They are low-risk
Correct Incorrect Correct answer

Transfer pricing requires arm's length judgment; provisions require legal and factual judgment that AI cannot provide reliably
Correct Incorrect Correct answer

AI is excellent at both
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They do not involve judgment
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