Artificial Intelligence Applications in the Auditing Profession: A Literature Review

Almufadda, Ghayah; Almezeini, Nora

doi:10.2308/jeta-2020-083

Cited by 24 publications

(15 citation statements)

References 28 publications

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“…As Chen et al ( 2020) highlight, "Cloud-based solutions offer real-time data access, seamless integration, and cost-effective solutions, empowering stakeholders to make informed decisions anytime, anywhere." Moreover, AI-driven algorithms have enabled accountants to perform advanced analytics, such as trend analysis, anomaly detection, and forecasting, facilitating strategic decision-making within organizations (Capkun et al, 2019). By leveraging these technologies, accounting professionals can focus on higher-value tasks, such as financial analysis, risk management, and strategic planning, thereby adding greater value to their organizations (IFAC, 2020).…”

Section: Resultsmentioning

confidence: 99%

“…Recent research affirms this trend, highlighting the growing importance of strategic advisory roles for accountants in the age of Artificial Intelligence (AI). Capkun et al (2019) emphasize the need for accountants to reimagine their role from mere data processors to strategic advisors, leveraging AI-driven insights to provide proactive guidance and support organizational decisionmaking. Recent studies further elucidate the potential of AI-powered analytics in enhancing the strategic capabilities of accountants.…”

Section: Role Transformation In the Digital Agementioning

confidence: 99%

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The Transformative Implications of Technology on Accounting Practices

Shaleh

2024

AMFR

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The integration of technology in accounting practices has spurred transformative implications, reshaping traditional processes and redefining the roles of accountants in the digital era. This study aims to explore these implications, employing a systematic literature review methodology to analyze existing scholarly works. Technological advancements, including cloud computing, Artificial Intelligence (AI), and Big Data analytics, have emerged as key enablers, offering automation, efficiency, and real-time data access. Findings indicate that these technologies have significantly enhanced efficiency and accuracy in financial reporting, allowing accountants to focus on higher-value tasks. However, challenges such as cybersecurity threats and ethical dilemmas accompany the adoption of technology in accounting. The evolving role of accountants, from data processors to strategic advisors, underscores the need for continuous upskilling and adaptation to remain relevant. This evolution also highlights the importance of fostering a culture of innovation and collaboration within organizations. The implications of these findings extend to educational institutions, which must integrate technological competencies into accounting curricula, and to policymakers, who play a crucial role in ensuring responsible and inclusive technology deployment. Overall, this study contributes to the understanding of technology's transformative impact on accounting practices and underscores the importance of adapting to the changing digital landscape.

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Section: Resultsmentioning

confidence: 99%

Section: Role Transformation In the Digital Agementioning

confidence: 99%

The Transformative Implications of Technology on Accounting Practices

Shaleh

2024

AMFR

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“…AI has benefits in the audit process, including efficiency and accuracy in fraud detection as well as fraud prediction and prevention (Mökander & Floridi, 2021). Artificial Intelligence (AI) brings significant improvements in the efficiency and accuracy of the audit process, especially in fraud detection (Almufadda & Almezeini, 2021). With its ability to process and analyze huge amounts of data quickly, AI reduces the time required to audit transactions significantly.…”

Section: Benefits and Potential Of Ai In Auditingmentioning

confidence: 99%

The audit revolution: Integrating artificial intelligence in detecting accounting fraud

Iman Supriadi

2024

JATI

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This study aims to analyze the application of Artificial Intelligence (AI) in detecting accounting fraud in audits. The aim is to identify AI's efficiency, accuracy, and potential in detecting fraud and to explore the challenges and implications arising from using this technology in audit practice. This research is a type of qualitative research with a case study approach as the main focus and a literature study as a data triangulation approach. This research methodology will provide an in-depth understanding of the integration of artificial intelligence in detecting accounting fraud. The results show that AI improves efficiency and accuracy in detecting accounting fraud. AI techniques such as machine learning and natural language processing effectively identify fraud patterns. However, there are challenges, such as limitations of AI technology, ethical and data privacy issues, and barriers to accepting AI in the accounting industry. This research contributes to the accounting literature by highlighting how AI can change audit practices. It also offers guidance for accounting firms on utilizing AI to improve auditing and suggests directions for future research related to the development and integration of AI in accounting.

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“…In the 1980s, the third part was launched: the dialogue interface for communicating with users. This part is used to hold a conversation with users, later called the "conversation" [8].…”

Section: Artificial Intelligence and Expert Systemsmentioning

confidence: 99%

Design Expert System for Auditing Financial Accounts

Al-Bakoaa

Hasoon

2022

Business

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This paper presents an account audition system based on (Expert System), an artificial intelligence technique. This paper presents an account audition system based on (Expert System), an artificial intelligence technique. Since the limited studies dealt with using artificial intelligence in a general and expert system in auditing accounts in Iraq (within the researcher's knowledge limits), the researcher tried to tackle these two subjects in his current study to apply them in reality. The expert system that is designed within rules and facts of knowledge base analyzes, audits, and extracts data from financial tables within accounting distributions consist included such as names of accounts and their numbers whose values are represented within cost centers represented by certain symbolic numbers that differ from one institution to another and obtaining the required results by using an applicable knowledge base. The Proposed system approach offers a practical method of auditing and distributing the required data by using the expert systems manually by many auditors. Using the expert system led to lessening time and effort taken to make audits and the accuracy of obtaining results.

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Artificial Intelligence Applications in the Auditing Profession: A Literature Review

Cited by 24 publications

References 28 publications

The Transformative Implications of Technology on Accounting Practices

The Transformative Implications of Technology on Accounting Practices

The audit revolution: Integrating artificial intelligence in detecting accounting fraud

Design Expert System for Auditing Financial Accounts

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