Robotic process automation and its impact on accounting

Abstract

The paper seeks to explain the concept of robotic process automation (RPA), the ways it impacts accounting, and suggest future research directions. A literature review of previous studies and state-of-the-art sources has been conducted to reveal research gaps. The results provide insights into the nature of the accounting transformation. The potential for automating accounting processes with RPA is high, and robots are predicted to replace accountants for a considerable part of their tasks. That could lead to the disappearance of entry-level accounting positions and, simultaneously, the creation of new accountant roles. Future accountants’ responsibilities will go beyond bookkeeping and financial reporting towards business advisory and leading the RPA transformation. The change entails the need to improve their soft skills, and technology and data skills. It calls for more studies on an effective method to integrate these skills into the accounting education model. Further research is required to examine the potential negative effects of employing robots. These relate to the unnecessary human-robot competition, unintended organisational structure changes, deskilling, and building expertise and knowledge management. Finally, to obtain a more comprehensive view of the impacts of RPA performance, more in-depth research is needed to account for all the financial and non-financial effects of RPA implementation.

Use of Intelligent Automation Technologies in Internal Audit: Robotic Process Automation and Cognitive Intelligence

“…Related to the subject, studies on smart automation technology in foreign literature and considered important within the scope of the theme of this study have been encountered, but it has been determined that there are more shallow studies in the Turkish literature. In this context; Jedrzejka (2019), for the use of robotic process automation in accounting applications; Ting-Po et al (2002), on smart automation technologies and performance; Kokina and Davenport (2017) appear to have worked on artificial intelligence and control. Gacar (2019) for artificial intelligence and accounting applications; Erdoğan (2019) on artificial intelligence and control; on the effect of artificial intelligence on internal audit; appear to be working on blockchain technology and internal audit.…”

Untitled

“…Mai mult, având în vedere că întreaga activitate contabilă presupune parcurgerea unor paşi bine definiţi prin proceduri de lucru, firmele care oferă servicii de contabilitate ar putea beneficia din plin de avantajele oferite de RPA. Un RPA face faţă modificărilor de legislaţie, de obicei destul de frecvente în domeniul fiscal, deoarece actualizările softului se pot face foarte uşor (Jędrzejka, 2019).…”

“…Fiecare flux de operaţii este detaliat în secvenţe de operaţii care la rândul lor sunt detaliate în taskuri simple şi pentru fiecare task este descrisă procedura. (Jędrzejka, 2019).…”

“…Colaborarea între departamentele firmei ce doreşte implementarea RPA este vitală şi poate motiva angajaţii să gândească într-un mod mai integrat, să-şi formeze o viziune de ansamblu asupra întregului flux operaţional de activităţi la nivel de entitate. Indiferent dacă se va finaliza sau nu implementarea RPA, analiza şi revizuirea întregului flux operaţional de activităţi de la nivelul entităţii este un câştig major, ce va contribui la o mai bună optimizare a activităţii (Jędrzejka, 2019).…”

“…Moreover, because the entire accounting activity involves going through welldefined steps through work procedures, companies that offer accounting services could fully benefit from RPA advantages. RPA copes with changes in legislation, usually quite frequent in the tax field, because software updates can be done very quickly (Jędrzejka, 2019).…”