What’s the difference between RPA and IPA, and how can they enhance the audit process?

August 1, 2018

Combining artificial intelligence (AI) and robotics can make audit processes faster and more effective. In addition to Robotic Process Automation (RPA), CPAs can use Intelligent Process Automation (IPA) to make automation scalable, adaptable and smarter.

RPA allows computer software with AI and machine learning capabilities to handle high-volume repeatable tasks such as queries, calculations and transactions previously done by humans. IPA can do the same, but can also mimic human activities, learn from them and improve over time. IPA can also manage unstructured data and make cognitive decisions.

Auditors can begin to implement automation by using RPA to automate time-consuming tasks and gradually add the IPA components. Automation can improve audit quality in many ways, including saving time and eliminating human errors.

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