The workshop focused on enhancing auditors’ skills, ensuring the accuracy and reliability of financial reporting in an increasingly digital environment.

The Ministry of Commerce and Industry (MoCI), in collaboration with Qatar University and Ernst & Young Global Consulting Services, hosted a workshop at the ministry’s headquarters in Lusail on Monday.

The event aimed at introducing auditors to the transformative role of Artificial Intelligence (AI) in the auditing process, with the goal of improving both the quality and efficiency of audits while keeping pace with technological advancements.

This initiative is part of MoCI’s broader commitment to advancing the auditing profession in accordance with Law No. (8) of 2020, which governs the regulation of auditing in Qatar.

During the session, participants explored how AI is reshaping the auditing profession. They compared traditional auditing methods with modern, AI-driven techniques, and were introduced to practical AI applications in areas such as data collection and analysis.

These innovations aim to improve the precision of audits and the overall quality of financial reporting.

The workshop also highlighted AI’s potential in risk management, with a focus on real-time risk assessments, fraud detection, and cybersecurity audits.

The discussions emphasised how AI can support auditors in identifying irregularities and enhancing the reliability of their evaluations.

The workshop presented different case studies and professional experiences showcasing the significant impact of AI on auditing practices.

It also addressed challenges related to its adoption, which included resistance to change from individuals and organizations accustomed to traditional methods, the high cost of implementing new technologies, and the need for extensive training and adaptation.

The event highlighted the substantial opportunities AI offers to improve audit quality, boost organizational competitiveness, and expand growth prospects for auditors.

The integration of AI technologies allows firms to attract new clients, retain existing ones, and position themselves as leaders in the industry.

The workshop concluded with an open discussion session, during which experts addressed participants’ questions and provided insights on overcoming the challenges of AI implementation in auditing.