India's apex auditor is building the necessary infrastructure and processes to harness artificial intelligence (AI) and machine learning for auditing processes and to audit AI applications themselves as the country aims to become a USD 30-trillion economy by 2047, CAG K Sanjay Murthy said.
Speaking at the World Forum of Accountants hosted by ICAI on Saturday, Comptroller and Auditor General (CAG) Murthy said a USD 30-trillion economy will be necessarily digital, as organisations expand into emerging areas, and global champions are born.
Accounting and auditing professionals will have to provide the required support.
"Adopting new technologies would help bring required efficiencies in the accounting and auditing processes. Taking a leadership role in developing and adapting innovative technological practices would also help Indian firms to become global champions," he said, while addressing the Institute of Chartered Accountants of India (ICAI) programme here on Saturday.
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