Part I
Demystifying ChatGPT:
A Simple Guide for Auditors

Mary Breslin, CFE, CIA

In the rapidly evolving world of auditing, new technologies are constantly emerging to help professionals perform their tasks more efficiently. One such technology is ChatGPT, an artificial intelligence (AI) tool that’s becoming increasingly popular. But what exactly is ChatGPT, and how can it benefit auditors, especially those who may not have a deep background in technology? Let’s break it down in simple terms.

What is ChatGPT?
ChatGPT is a type of AI that can understand and generate human-like text based on the information it’s given. It’s part of a broader family of technologies called “language models,” which are designed to process and produce language in a way that’s very similar to how people talk and write. Think of ChatGPT as a very advanced assistant that can help with a wide range of tasks by answering questions, analyzing text, generating ideas, and much more.

At its core, ChatGPT works by analyzing large amounts of text data that it has been trained on. This training allows it to “learn” patterns in language—like grammar, context, and meaning—so that it can respond intelligently to the prompts or questions you give it. Even though it doesn’t “think” like a human, it’s incredibly good at simulating human-like conversations and providing useful information.

How Can ChatGPT Help Auditors?
For auditors, ChatGPT can be an invaluable tool, even if you don’t consider yourself particularly tech-savvy. Here’s how it can assist you in your day-to-day work:

1. Quickly Finding Information: Imagine you need to look up a specific regulation or standard related to your audit. Instead of spending time searching through manuals or online databases, you can ask ChatGPT to summarize the key points for you. This can save you valuable time and ensure you have the information you need right at your fingertips.
2. Analyzing Documents: ChatGPT can help you review and analyze documents. For instance, if you’re going through a lengthy report or set of work papers, you can ask ChatGPT to highlight the most important sections, identify potential issues, or even compare information across different documents. This is especially helpful when you’re dealing with large volumes of data and need to focus on the most critical areas.
3. Brainstorming and Problem-Solving: When you’re planning an audit or assessing risks, ChatGPT can serve as a brainstorming partner. You can describe a scenario or issue, and ChatGPT can suggest potential risks, questions to ask, or strategies to consider. This can help you think through complex problems and come up with solutions that you might not have considered on your own.
4. Improving Communication: Whether you’re drafting an audit report or preparing a presentation, ChatGPT can help you find the right words. It can suggest ways to phrase complex ideas clearly and concisely, ensuring your communication is both professional and easy to understand. This can be particularly useful if you’re not confident in your writing skills or need help organizing your thoughts.

Is ChatGPT Complicated to Use?
One of the great things about ChatGPT is that it’s designed to be user-friendly. You don’t need to be a technology expert to use it effectively. You interact with ChatGPT by typing questions or commands in plain English, just as you would in a conversation. The more clearly you describe what you need, the better the responses you’ll get. And if you’re ever unsure about how to use it, you can always start with simple questions or tasks and gradually explore more complex uses as you become more comfortable.

The Bottom Line:
ChatGPT is a powerful tool that can enhance your auditing work, even if you have limited experience with technology. By helping you quickly find information, analyze documents, brainstorm ideas, and communicate more effectively, ChatGPT allows you to focus on what you do best—providing valuable insights and ensuring the integrity of the audit process. With a little practice, you’ll find that ChatGPT can become an indispensable part of your auditing toolkit.

Mary Breslin, CFE, CIA, is president and founder of Verracy, a training and consulting company. Contact her at mbreslin@verracy.com.