Impact of Artificial Intelligence on Accounting, Auditing and Financial Reporting
DOI:
https://doi.org/10.47672/ajce.1433Keywords:
Artificial Intelligence, Accounting, Auditing, and Financial Reporting.Abstract
Purpose: The study aimed at portraying the current role of Artificial intelligence in accounting, auditing, and financial reporting.
Methodology: The study used a descriptive research design. This form of research design aims at describing the current status of an identified variable. Data was collected from secondary materials.
Findings: Currently, multiple AI technologies are being utilized in accounting, auditing, and financial reporting. The AI expert systems accept human experiences as well as technical know-how as their fundamental and try to develop aggregate behavior or practice. Also, AI has allowed for factors such as automated data input, thus enhancing the scope of accounting, and enabling modern accounting to integrate and process huge data.
Recommendations: It is critical for future policymakers to ensure standardization of the AI system in the accounting paradigm to ensure high-quality systems that adhere to the principles of accounting.
Downloads
References
Amershi, S., Weld, D., Vorvoreanu, M., Fourney, A., Nushi, B., Collisson, P., & Horvitz, E. (2019, May). Guidelines for human-AI interaction. In Proceedings of the 2019 chi conference on human factors in computing systems (pp. 1-13).
Carpenter, T. (2020). Revolutionising the consumer banking experience with artificial intelligence. Journal of Digital Banking, 4(4), 291-300.
Davenport, T. H., & Ronanki, R. (2018). Artificial intelligence for the real world. Harvard business review, 96(1), 108-116.
Li, Z., & Zheng, L. (2018). The impact of artificial intelligence on accounting. In 2018 4th International Conference on Social Science and Higher Education (ICSSHE 2018). Atlantis Press.
Luo, J., Meng, Q., & Cai, Y. (2018). Analysis of the impact of artificial intelligence application on the development of accounting industry. Open Journal of Business and Management, 6(4), 850-856.
Polak, P., Nelischer, C., Guo, H., & Robertson, D. C. (2020). “Intelligent” finance and treasury management: what we can expect. Ai & Society, 35, 715-726.
Ucoglu, D. (2020). Current machine learning applications in accounting and auditing. PressAcademia Procedia, 12(1), 1-7.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Ke-afoon Collins Kindzeka
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgment of the work’s authorship and initial publication in this journal.
