IT auditors who know a lot about artificial intelligence can now show it through a new certification, as the ISACA — the organization behind credentials like CISA and CISM — now offers an AAIA or “Advanced in AI Audit” credential. The certification demonstrates that an IT audit professional can navigate the complexities of AI and has the skills to respond to risks, identify opportunities and ensure compliance while safeguarding organizational integrity. Overall, it validates expertise in conducting AI-focused audits, addressing AI integration challenges, and enhancing audit processes through AI-driven insights.

The credential requires knowledge of a wide range of AI-related audit skills, proven through an exam scheduled through ISACA. Only those with an active CISA from ISACA, CIA from the IIA, and CPA from the AICPA are eligible to pursue the AAIA, which covers the key domains of AI governance and risk, AI operations, AI auditing tools and techniques.

Chiefly, professionals must demonstrate “AI operations” skills that concern balancing sustainability, operational readiness and the risk profile with the benefits and innovation AI promises to support enterprise-wide adoption of this powerful technology. This includes AI-specific data management, AI solution lifecycle management, AI-specific change management, supervision of AI solutions (especially agents), testing techniques for AI solutions, AI-specific threats and vulnerabilities, and AI-specific incidence response management. 

The next largest area of focus is “AI governance and risk,” which is mainly concerned with advising stakeholders on implementing AI solutions through appropriate and effective policy, risk controls, data governance and ethical standards. This encompasses general knowledge of AI and its business impacts, AI governance and program management, AI risk management, data and data governance programs, and how AI fits into standards frameworks and professional ethics. 

After that is “AI auditing tools and techniques,” which focuses on optimizing audit outcomes for innovation and highlights the professional’s knowledge of audit techniques tailored to AI systems and the use of AI-enabled tools to streamline audit efficiency and provide faster, quality insights. This includes audit planning and design, testing and sampling methodologies, evidence collection techniques, data quality and analytics, outputs and reports, all specific to AI. 

There are a number of task-based secondary classifications, such as “utilize AI solutions to enhance audit processes, including planning, execution and reporting” and “evaluate algorithms and models to ensure AI solutions are aligned to business objectives, policies and procedures.”

“ISACA is proud to have served the global audit community for more than 55 years through our audit and assurance standards, frameworks and certifications, and we are continuing to help the community evolve and thrive with the certifications and training they need in this new era of audits involving AI,” said Shannon Donahue, ISACA chief content and publishing officer. “Through AAIA, auditors can demonstrate their expertise and trusted advisory skills in navigating AI-driven challenges while upholding the highest industry standards.”

As AI becomes increasingly integrated into the world economy, a number of standard-setting and certification bodies have responded to rising concerns about the impact the technology can have on business and the economy as a whole. The National Institute of Standards and Technology released its AI Risk Management framework at the beginning of 2023. The following year, the International Organization for Standardization released ISO 42001, which specifies requirements for establishing, implementing, maintaining and continually improving an AI management system within an organization. ISACA says this is the first advanced AI audit certification in the world, developed in response to rising concerns about the black box nature of many AI models which, in turn, has driven calls for more oversight by audit and assurance professionals over the technology’s internal structures. 

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This week’s stats focus in part on the Securities and Exchange Commission audit client market, with overall market share for the largest firms, the overall number of new SEC audit clients, and top firms for new audit clients by quarter; as well as the number of accounting-related securities class actions; the amount of federal taxes paid by unauthorized immigrants in 2023; and the amount of federal debt per taxpayer.

Lack of awareness, fear of mistakes and penalties, and the cost of filing are preventing many families from claiming millions of dollars in tax credits, according to a new study.

The report, released Tuesday by the New Practice Lab at New America, surveyed over 5,000 respondents to learn why so many households fail to claim the Child Tax Credit, the Earned Income Tax Credit and other tax breaks that could help them.

Awareness gaps were a big barrier. Among households earning under $10,000 annually, 36% were unaware of any tax credits, more than double the rate among households earning over $150,000 (17%).

Misunderstanding their eligibility also kept many taxpayers from filing their annual returns. One-third of lower-income households earning under $26,000 who hadn’t filed taxes in the past three years said they didn’t file because they believed their income was too low. But within this group, 20% had earned income and 37% had children — factors that probably would have made them eligible for claiming the tax credits if they had filed.

Fear of making a mistake and being penalized for it was the most common barrier to filing a return, particularly among lower-income households. This fear had major consequences, as 61% of respondents who felt this way hadn’t filed tax returns in the past three years, and even when they did file, they were more likely to miss out on tax credits.

Filing a tax return can be expensive for families, forcing them to forgo other expenses in order to file. Even though 36% of survey respondents cited cost as a barrier, most had used professional tax help at some point due to concerns around navigating the process alone.

Accessing the right documents poses a challenge for taxpayers. Half of the survey respondents said they had trouble gathering the documents they needed to file their taxes, and 80% of those who faced documentation issues struggled with more than one type of document.

Most low-income households are already connected with other types of government support services, but tax credits feel like a separate disconnected area. The survey found 84% of households who had not filed taxes at all or irregularly in the past three years had participated in at least one other public support service during that same time period. 

“Accessing tax credits is often overwhelming and costly, creating unnecessary barriers for the families who need this support the most,” said Devyani Singh, lead author of the report, in a statement. “Tax credits can be a critical lifeline for families that are struggling financially, and it’s up to state Departments of Revenue to look at the process as a delivery issue. There’s no one-size-fits-all solution to increasing tax credit uptake; improving access requires a multipronged strategy combining personalized outreach, streamlined systems, and policies that meet families where they are.”

The report pointed out that such  factors are important for government agencies to consider, especially as the White House and some lawmakers in Congress express interest in increasing the amount families can get from the Child Tax Credit. However, the proposed shuttering of free tax-filing programs like Direct File, which New America was involved in studying, will make it harder for families to access these benefits. The tax reconciliation bill would also restrict access to claiming the Child Tax Credit to families with Social Security numbers as a way to deter immigrants from accessing such benefits.