Assessing the Transformative Impact of AI Adoption on Efficiency, Fraud Detection, and Skill Dynamics in Accounting Practices

Fadi Bou Reslan and Nada Jabbour Al Maalouf
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Fadi Bou Reslan: School of Business, Holy Spirit University of Kaslik, Jounieh 446, Lebanon

JRFM, 2024, vol. 17, issue 12, 1-16

Abstract: Based on the significance of AI adoption in the accounting field, this study intends to investigate its impact on the accounting profession; specifically on the efficiency and quality of financial data, financial fraud detection and tax filings, and work activities and skill requirements of accountants. A quantitative method was employed, and a questionnaire was sent to a purposive sample of 454 accountants. The results confirm that AI adoption in accounting significantly enhances the efficiency and quality of financial data, positively influences financial fraud detection and tax filings, and alters work activities and skill requirements within the accounting profession. These results highlight the transformative role of AI in modern accounting practices. Notably, the study incorporates demographic variables such as age and experience, uncovering their mediating influence on perceptions of AI’s impact. Conducted in Lebanon, a developing country facing economic and political instability, the research provides valuable contextual insights into AI adoption under challenging conditions. This study contributes to the literature by empirically demonstrating AI’s transformative role in accounting, offering both theoretical advancements and actionable recommendations for professionals aiming to harness AI for improved performance and innovation.

Keywords: artificial intelligence; accounting profession; digitalization economy (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2024
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