Applications of GPT in Finance, Compliance, and Audit Benefits, Challenges, Practical Examples

This book, authored by three experts with the assistance of GPT, provides comprehensive insights into the applications of generative AI, such as GPT, in the financial sector of businesses. It offers background information, benefits, as well as the challenges and risks associated with implementation. In addition to general applications within companies, specific use cases are also presented, focusing on areas such as controlling, business intelligence, accounting, investor relations, internal audit and control systems, risk management, auditing, and data privacy. The book concludes with a discussion on strategies for utilizing GPT effectively.

Background and Benefits of GPT.- Challenges and Risks in the Use of GPT.- General Applications within Companies.- Use Cases in Controlling, Business Intelligence, Accounting, Investor Relations, Internal Audit and Control Systems, Risk Management, Auditing, and Data Privacy.- Strategy for Implementing GPT.

Alexander Hüsch is Vice President of Accounting, Tax & Treasury at an international IT service group. With 15 years of experience in leadership roles within the finance sector across various companies, he previously worked as an auditor and tax advisor at a medium-sized audit firm.

Dirk Distelrath serves as Director of Consulting & Digital Compliance at an auditing firm, focusing on digital transformation, cloud, and innovation.

Tanja Hüsch holds the position of Head of Internal Audit & Risk Management at a Nasdaq-listed metasearch company, overseeing SOX 404 compliance among other responsibilities. With extensive experience in senior roles in auditing, as well as being a certified auditor and tax advisor.