The document summarizes the 15th CarLab Advisory Board Meeting. Some key points: - Three PhD students completed dissertations on cybersecurity, audit technology, and public auditing. Five new PhD students were accepted. - The CarLab continues its audit analytics certificate program and digital library. It held conferences in Brazil and is planning one in Spain. - The CarLab has over 30 faculty, students, and visiting scholars working on projects involving KPMG, Itau bank, and others relating to audit data standards, text mining, and government reporting. - The CarLab is working to incorporate machine learning, AI, and analytics into auditing curriculum and courses. It also focuses on electronic

1. 15th CarLab Advisory Board Meeting
Miklos A. Vasarhelyi
KPMG Distinguished Professor of AIS, Rutgers
University
Director CarLab
November 2, 2017

2. Some news
• Three PhD students completed their dissertations doing CarLab related work:
• He Li (Stanley),
– Three essays in cybersecurity related issues
• Jun Day
– Tree Essays on Audit Technology: Audit 4.0, Blockchain, and Audit App
• Deniz Applebaum
– Public Auditing, Analytics, and Big Data in the Modern Economy
• We accepted 5 new students in our PhD Program in AIS and some Accounting PhD
students are working with us
• We hired 1 additional faculty member to work with the CarLab from an IS area
27/16/2018CAR Lab Advisory Board Meeting

3. News (2)
• We continue our certificate in Audit Analytics with positive results
• The Digital Library continues growing
• 38WCAS was in Sao Paulo
• 39WCAS was in Rio de Janeiro
• Planning 41WCAS next week in Huelva Spain back to focus on
Artificial Intelligence Applications
• Many publications
• Continuing attention to Open Data
• Several Presentations to the PCAOB, presentation to the PIOB,
brown bag at the SEC
• Several efforts in Brazil with some progress
• Continued the Rutgers AICPA Data Analytics Research Initiative
(RADAR), now moving to phase 2 with applications working with
sponsors
37/16/2018GASB - RBS Meeting

4. Research Team
• 10 resident faculty + 4 non resident senior fellows
• 21 PhD Students or recent graduates
• 4 undergraduate assistants
• 2 international visiting scholars
• A multitude of related resource people
47/16/2018CAR Lab Advisory Board Meeting

5. The Carlab Active Research Efforts
• KPMG project
• Itau Project
• RADAR project
• TAAG Group
– text mining MD&As, CEO interviews, etc
• AICPA -> Audit data standard
• AICPA Audit Analytics efforts
• NFP organization project
• Open data efforts
• Volcker Alliance effort
• Rutgers Internal Audit Efforts
57/16/2018CAR Lab Advisory Board Meeting

6. Reaching out – forward looking attempts
• Multiple machine learning projects
• Including AI into an audit platform
• Government electronic reporting
• Audit Analytics
• Improving the audit courses, changing our
curriculum substantively; cybersecurity,
forensics, much audit analytics
• Our electronic education mission
67/16/2018GASB - RBS Meeting

7. 7

8. BRIGHAM YOUNG
UNIVERSITY
The Ranking of Rutgers in the Accounting Areas
Areas Ranking 2008-2013 Ranking 2002-2013
Ranking
1990-
2013
AIS #1 out of 179 #1 out of 207
#1 out
of 241
Audit #6 out of 320 #7 out of 370
#11 out
of 438
Financial #70 out of 356 #89 out of 406
#83 out
of 470
Managerial #120 out of 286 #80 out of 346
#66 out
of 413
Tax #53 out of 129 #76 out of 178
#79 out
of 246
Other #35 out of 171 #18 out of 248
#25 out
of 341

9. Recent research of PhD students
https://www.youtube.com/playlist?list=PLauepKFT6DK9vKn7-eKxzmxBegpe8v8xw
Name Title
Abdulrahman Alrefai Formalization of Internal Control Assessment: A Process Mining Application
Ahmad AlQassar Resisting Change in the Audit Profession: Two Case Studies from Multi-National Firms
Andrea Rozario
Examination of Audit Planning Risk Assessments Using Verbal Protocol Analysis: An Exploratory
Study
Cheng Yin Privacy-Preserving Information Sharing within an Audit Firm
Deniz Appelbaum Using Drones in Internal and External Audits: An Exploratory Framework
Feiqi Huang Audit Evidence Index Project
He Li Are External Auditors Concerned about Cyber Incidents? Evidence from Audit Fees
Jiahua Zhou The Survived Companies with Going Concern Are Really Different from Those Bankrupted
Jun Dai Towards Blockchain-based Accounting and Assurance
Jun Dai Imagineering Audit 4.0
Zhaokai Yan Impact of Data Analytics on Managerial Accounting Using Balanced Scorecard Framework
Yunsen Wang An Application of Blockchain Technology to Fraud Detection
Yue Liu Risk Analysis Based on 10-K Item 1a
Ting Sun The Performance of Sentiment Features of 10-K MD&As for Financial Misstatement Prediction
Tiffany Chiu Apply Process Mining to Evaluate Internal Control Effectiveness Automatically
Qiao Li Rule-Based Decision Support System for Audit Planning and Audit Risk Assessment
Lu Zhang
Interactive Data Visualization for Error and Fraud Detection: Case Studies and Practice
Implications

10. Section

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12. Section
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