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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

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

AI Training for Finance Professionals: Controls, Audit Trails and Numbers You Can Sign
Vendor Tools in the Finance Stack and What to Check
Quiz: Vendor Tools in the Finance Stack and What to Check

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Question 1 of 5

1. Question

What is the first step in evaluating a vendor AI tool for financial processes?

Always trust the vendor's marketing claims
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Understand what the tool actually does: whether it is deterministic or probabilistic, where data is processed and whether it trains on your data
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Skip technical details and focus only on price
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Assume all vendors use the same technology
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Question 2 of 5

2. Question

How should you test a vendor tool before purchasing?

Trust the vendor's accuracy claims without testing
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Run the tool on a representative sample of your own data and measure accuracy, not just accept vendor figures; also test edge cases
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Do not test, purchasing decisions should be quick
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Only test if an error is discovered
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Question 3 of 5

3. Question

What should a vendor contract specify about accuracy?

Contracts should not mention accuracy
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The accuracy the vendor commits to achieve and how it will be measured
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Only that the vendor is trustworthy
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Nothing about performance
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Question 4 of 5

4. Question

What data handling practices should be specified in a vendor contract?

Vendor can use data for any purpose
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Data handling practices, liability, performance guarantees and vendor compliance with relevant regulations (FCA, GDPR, data residency requirements)
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Data handling is not a vendor responsibility
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Only cost matters
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Question 5 of 5

5. Question

Why is monitoring vendor performance after purchase as important as pre-purchase testing?

Post-purchase monitoring is unnecessary
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Vendors should be monitored against committed SLAs; if they fall below agreed accuracy or uptime, this is a contract violation
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Once purchased, vendor performance does not matter
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Only monitor if a major error occurs
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