Journal of Information Systems Engineering and Management

The impact of artificial intelligence on audit profession
Luis Rodrigues 1, José Pereira 1, Amélia Ferreira da Silva 2 * , Humberto Ribeiro 3
More Detail
1 School of Management, IPCA, Barcelos, Portugal
2 CEOS.PP, Polytechnic of Porto / ISCAP, Portugal
3 ESTGA & GOVCOPP, University of Aveiro, Portugal
* Corresponding Author
Research Article

Journal of Information Systems Engineering and Management, 2023 - Volume 8 Issue 1, Article No: 19002
https://doi.org/10.55267/iadt.07.12743

Published Online: 03 Jan 2023

Views: 69 | Downloads: 96

How to cite this article
APA 6th edition
In-text citation: (Rodrigues et al., 2023)
Reference: Rodrigues, L., Pereira, J., da Silva, A. F., & Ribeiro, H. (2023). The impact of artificial intelligence on audit profession. Journal of Information Systems Engineering and Management, 8(1), 19002. https://doi.org/10.55267/iadt.07.12743
Vancouver
In-text citation: (1), (2), (3), etc.
Reference: Rodrigues L, Pereira J, da Silva AF, Ribeiro H. The impact of artificial intelligence on audit profession. J INFORM SYSTEMS ENG. 2023;8(1):19002. https://doi.org/10.55267/iadt.07.12743
AMA 10th edition
In-text citation: (1), (2), (3), etc.
Reference: Rodrigues L, Pereira J, da Silva AF, Ribeiro H. The impact of artificial intelligence on audit profession. J INFORM SYSTEMS ENG. 2023;8(1), 19002. https://doi.org/10.55267/iadt.07.12743
Chicago
In-text citation: (Rodrigues et al., 2023)
Reference: Rodrigues, Luis, José Pereira, Amélia Ferreira da Silva, and Humberto Ribeiro. "The impact of artificial intelligence on audit profession". Journal of Information Systems Engineering and Management 2023 8 no. 1 (2023): 19002. https://doi.org/10.55267/iadt.07.12743
Harvard
In-text citation: (Rodrigues et al., 2023)
Reference: Rodrigues, L., Pereira, J., da Silva, A. F., and Ribeiro, H. (2023). The impact of artificial intelligence on audit profession. Journal of Information Systems Engineering and Management, 8(1), 19002. https://doi.org/10.55267/iadt.07.12743
MLA
In-text citation: (Rodrigues et al., 2023)
Reference: Rodrigues, Luis et al. "The impact of artificial intelligence on audit profession". Journal of Information Systems Engineering and Management, vol. 8, no. 1, 2023, 19002. https://doi.org/10.55267/iadt.07.12743
ABSTRACT
There is an expectation that the introduction of artificial intelligence (AI) will bring about profound changes in the current paradigm of the audit profession, ensuring better reliability and security in the analysis of financial statements. This paper reports the results of a questionnaire survey to ascertain the perceptions of certified auditors, from two Portuguese districts, regarding the impact of artificial intelligence on the audit profession. Findings reveal that the respondents believe that the profession's future depends on the implementation of AI, namely in the efficiency and effectiveness of audit procedures, sampling techniques, cost-benefit relationship and recognizing material distortions.
KEYWORDS
REFERENCES
  • Agnew, H. (2016). Auditing: Pitch Battle. The Financial Times.
  • AICPA, & Canada, C. (2020). The Data-Driven Audit: How Automation and AI are Changing the Audit and the Role of the Auditor. Chartered Professional Accountants of Canada, 1-34.
  • Brennan, B., Baccala, M., & Flynn, M. (2017). Artificial intelligence comes to financial statement audits. http://ww2.cfo.com/auditing/2017/02/artificial-intelligence-audits/
  • Brown, R. (1962). Changing audit objectives and techniques. The Accounting Review, 37(4), 696–703.
  • Byrnes, P.E., Al-Awadhi, A., Gullvist, B., Brown-Liburd, H., Teeter, R., Warren, J.D. & Vasarhelyi, M. (2018). Evolution of Auditing: From the Traditional Approach to the Future Audit. In Chan, D.Y., (Ed.) Continuous Auditing (Rutgers Studies in Accounting Analytics), Emerald Publishing Limited, Bingley, 285-297. https://doi.org/10.1108/978-1-78743-413-420181014
  • Dalal, C. (2015). Using an expert system in audit: A case study of fraud detection. In Using an expert system in an audit: A case study of fraud detection, 1. ITAUDIT.
  • Duarte, L. (2010). Auditoria Financeira. Faculdade de Economia da Universidade de Coimbra, 8-75.
  • Gabriel, M. (2018). Você, eu e os robôs: pequeno manual digital. Editora Altas, 1-271.
  • Ghanoum, S., & Alaba, F. M. (2020). Integration of Artificial Intelligence in Auditing: The Effect on Auditing Process. Kristianstad University.
  • Issa, H., Sun, T., & Vasarhelyi, M. A. (2016). Research ideas for artificial intelligence in auditing: The formalization of audit and workforce supplementation. Journal of Emerging Technologies in Accounting, 13(2), 1–20. https://doi.org/10.2308/jeta-10511
  • Joshi J., Rimmington L., Dance H., Verwij G., Rao A. & Barnard R., (2018). The Macroeconomic Impact of Artificial Intelligence. PwC Analysis, 1-65. DOI:10.13140/RG.2.2.21506.38083
  • Kokina, J., & Hayes Davenport, T. (2017). The emergence of artificial intelligence: How automation is changing auditing. Journal of Emerging Technologies in Accounting, 14(1), 115–122. DOI: https://doi.org/10.2308/jeta-51730
  • Mijwel, M. M. (2015). History of Artificial Intelligence. University of Baghdad, 1–5. DOI: 10.13140/RG.2.2.16418.15046
  • Moudud-Ul-Huq, S. (2014). The Role of Artificial Intelligence in the Development of Accounting Systems: A Review. IUP Journal of Accounting Research & Audit Practices, 13(2).
  • Nunes, T., Leite, J., & Pedrosa, I. (2020). Automação Inteligente de Processos: Um olhar sobre o Futuro da Auditoria. 15th Iberian Conference on Information Systems and Technologies, 1-6. DOI: 10.23919/CISTI49 556.2020.9140969
  • Nunes, T., Leite, J., & Pedrosa, I. (2020). Automação Inteligente de Processos: Um olhar sobre o Futuro da Auditoria. 15th Iberian Conference on Information Systems and Technologies, 1-6. DOI: 10.23919/CISTI49 556.2020.9140969
  • Oliveira, A. (2019). Inteligência artificial (1ª ed.). Fundação Francisco Manuel dos Santos, 1-113. Lisboa
  • Omoteso, K. (2012). The application of artificial intelligence in auditing: Looking back to the future. Expert Systems with Applications, 39(9), 8490-8495.
  • Rossi, F. (2019). Building Trust in Artificial Intelligence. Journal of International Affairs, 72(1), 127-134.
  • Szczepański, M. (2019). Economic impacts of artificial intelligence (AI). European Parliamentary Research Service, 1-8.
  • Teck-Heang, L., & Ali, A. M. (2008). The evolution of auditing: An analysis of the historical development. Journal of Modern Accounting and Auditing, 4(1243), 1–8.
  • Verma, P. (2018). The natural impact of artificial intelligence. International Journal of Critical Infrastructure Protection, 22, 150-151. DOI: 10.1016/j.ijcip.2018.08.009
  • Zhang, Y., Xiong, F., Xie, Y., Fan, X., & Gu, H. (2020). The impact of artificial intelligence and blockchain on the accounting profession. Ieee Access, 8, 110461-110477.
  • Zemánková, A. (2019). Artificial intelligence and blockchain in audit and accounting: Literature review. wseas Transactions on Business and Economics, 16(1), 568-581.
  • Zhang, C. A., Cho, S., & Vasarhelyi, M. (2022). Explainable Artificial Intelligence (XAI) in auditing. International Journal of Accounting Information Systems, 46, 100572.
LICENSE
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.