“Analytical Study of Artificial Intelligence (AI) in the Audit of Financial Institutions with Special Reference to Cooperative Societies in Maharashtra, India”

Author(s)	Dr.Subhash Sopan Wavhal
Country	India
Abstract	The integration of Artificial Intelligence (AI) in auditing has transformed traditional approaches, offering enhanced accuracy, efficiency, and continuous monitoring of financial transactions. This research paper focuses on the impact of AI in auditing financial institutions, with a particular emphasis on cooperative societies. Given the unique structure, governance, and operations of cooperative societies, AI's role is explored in terms of benefits, challenges, and future trends. The study provides insights into how AI-driven audits can improve fraud detection, risk assessment, and regulatory compliance in cooperative societies, while addressing challenges related to data integrity, transparency, and ethical considerations.
Keywords	Keywords: Artificial Intelligence, Auditing, Cooperative Societies, Financial Institutions, Machine Learning, Data Analytics, Compliance, Fraud Detection
Field	Mathematics > Economy / Commerce
Published In	Volume 6, Issue 5, September-October 2024
Published On	2024-10-23
Cite This	“Analytical Study of Artificial Intelligence (AI) in the Audit of Financial Institutions with Special Reference to Cooperative Societies in Maharashtra, India” - Dr.Subhash Sopan Wavhal - IJFMR Volume 6, Issue 5, September-October 2024. DOI 10.36948/ijfmr.2024.v06i05.28997
DOI	https://doi.org/10.36948/ijfmr.2024.v06i05.28997
Short DOI	https://doi.org/g8pnqj

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