Auditors' Perception on the Impact of Artificial Intelligence on Professional Skepticism and Judgment in Oman

Puthukulam, Gopalan; Ravikumar, A.; Sharma, Ravi; Meesaala, Krishna Murthy

doi:10.13189/ujaf.2021.090527

Cited by 16 publications

(13 citation statements)

References 15 publications

(19 reference statements)

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“…The results in Table 5 show that items in PC4 had the highest mean value of 4.091 (SD = 0.921) for (1) local audit firms, indicating that the perceived contribution of AI systems creates a robust risk assessment through the analysis of the whole population. This result was also supported in the study by Puthukulam et al (2021), which indicated that AI and ML process large data in a faster time and offer the ability to enhance the quality of risk assessment. Furthermore, items in PC10 had the highest mean value for both category (1) and ( 2), with 4.091 (SD = 0.921) for (1) local audit firms and 4.000 (SD = 0.922) for (2) international audit firms.…”

Section: Descriptive Statisticssupporting

confidence: 58%

“…This indicates that both categories of audit firms agree that the perceived contribution of AI systems identifies instances of some potential threats and frauds, as also proven by the study, and assists with professional skepticism and judgement. It indicates that AI helps in detecting errors and frauds by using predictive analysis methods (Puthukulam et al 2021). Hence, H1 confirmed that there is a perceived contribution of using AI to the audit quality for each type of audit firm.…”

Section: Descriptive Statisticsmentioning

confidence: 74%

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The Use of Artificial Intelligence and Audit Quality: An Analysis from the Perspectives of External Auditors in the UAE

Noordin

Hussainey

Hayek

2022

JRFM

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This paper aims to explore external auditors’ perception of the use of artificial intelligence (AI) in the United Arab Emirates (UAE). It investigates whether there is a perception among external auditors toward the contribution of AI to audit quality. It also aims to test whether the perception of AI usage and its impact on audit quality differs between local and international external auditors. Data were collected using an online survey from 22 local and 41 international audit firms to achieve these research objectives. Participants were either the auditing manager, audit partners, senior auditors or other personnel who may have experience in the field of accounting and auditing. To test our hypotheses, data analysis was undertaken using reliability and validity tests, descriptive analysis and independent samples t-test. We found that the analysis shows that there is a non-significant difference in the perceived contribution of AI to audit quality between local and international audit firms. All the audit firms, whether local or international, have equal perceived contributions with regard to the audit quality.

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Section: Descriptive Statisticssupporting

confidence: 58%

Section: Descriptive Statisticsmentioning

confidence: 74%

The Use of Artificial Intelligence and Audit Quality: An Analysis from the Perspectives of External Auditors in the UAE

Noordin

Hussainey

Hayek

2022

JRFM

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“…AI can help auditors save time while conducting a more thorough analysis of a company's financial activities. Studies indicate that the degree of professional skep ticism and judgment exhibited by auditors influences the effectiveness of their audits (Puthukulam et al, 2021). Artificial intelligence has the potential to replace human auditors and boost efficiency while lowering expenses, claim Fedyk et al (2022).…”

Section: Results Of Hypotheses Testingmentioning

confidence: 99%

“…By utilizing AI and ML, auditors can save time while conducting a more thorough analysis of a company's financial transactions. Studies indicate that the auditors' level of professional judgment and skepticism influences the effectiveness of their audits (Puthukulam, G., et al, 2021). AI has the ability to take the place of human auditors and boost productivity while cutting expenses, claim Fedyk, A., et al (2022).…”

Section: Enhanced Audit Processes (Eap)mentioning

confidence: 99%

Evaluating Artificial Intelligence's Effect On Accounting Information Systems For Small And Medium-Sized Enterprises

Haridasan,

Muthukumaran,

Usha

et al. 2024

Migrat. Lett.

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The purpose of the study is to determine how artificial intelligence affects small and medium-sized businesses' use of accounting information systems. Regression analysis was employed to verify the suggested model and test the hypothesis. Thus, it was determined that AI offers small enterprises new opportunities. With the aid of this study, the use of AI in accounting systems will increase in the future. Small and medium-sized firms (SMEs) are using artificial intelligence (AI) to improve many aspects of their operations and gain a competitive advantage.

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“…The introduction of AI and machine learning (ML) in auditing is still in its early stages, presenting opportunities for internal auditors to enhance audit procedures and professional skepticism (Puthukulam et al, 2021). Continuous auditing of AI systems is particularly relevant for internal audit functions, offering tools and frameworks to assess AI systems effectively (Minkkinen et al, 2022).…”

Section: F Ai In Internal Audit and Risk Assessmentmentioning

confidence: 99%

AI and Auditing: Enhancing Audit Efficiency and Effectiveness with Artificial Intelligence

Lidiana

2024

COUNT

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The use of automation and artificial intelligence (AI) in audit practice is increasingly becoming a major focus, with significant impact on the profession. This research depicts the current landscape of the use of AI in auditing, highlighting aspects such as automation and empowerment of the workforce in auditing, impact of AI on improving audit quality criteria, key factors in adopting AI-based audit techniques, impact of AI technology on audit evidence , and auditors' perceptions of AI in improving audit quality. The results and discussion show that while there are great benefits from integrating automation and AI in auditing, including improved audit quality, enhanced efficiency, and the ability to perform continuous audits, there are also challenges that need to be overcome, such as high customization costs for specific audit processes industry. The use of AI in auditing requires adaptation from auditors to changes in competencies and workflows to effectively utilize this technology. However, with proper understanding and careful handling of these challenges, AI has great potential to improve overall audit practices.

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Auditors' Perception on the Impact of Artificial Intelligence on Professional Skepticism and Judgment in Oman

Cited by 16 publications

References 15 publications

The Use of Artificial Intelligence and Audit Quality: An Analysis from the Perspectives of External Auditors in the UAE

The Use of Artificial Intelligence and Audit Quality: An Analysis from the Perspectives of External Auditors in the UAE

Evaluating Artificial Intelligence's Effect On Accounting Information Systems For Small And Medium-Sized Enterprises

AI and Auditing: Enhancing Audit Efficiency and Effectiveness with Artificial Intelligence

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