The Role of Artificial Intelligence in Eliminating Accounting Errors

Moustafa Al Najjar (), Mohamed Gaber Ghanem, Rasha Mahboub and Bilal Nakhal
Additional contact information
Moustafa Al Najjar: Accounting Department, Beirut Arab University, Beirut 1105, Lebanon
Mohamed Gaber Ghanem: Accounting Department, Beirut Arab University, Beirut 1105, Lebanon
Rasha Mahboub: Accounting Department, Beirut Arab University, Beirut 1105, Lebanon
Bilal Nakhal: Mathematics and Computer Science Department, Beirut Arab University, Beirut 1105, Lebanon

JRFM, 2024, vol. 17, issue 8, 1-15

Abstract: This study investigates the impact of artificial intelligence (AI) on reducing accounting errors from two distinct angles: that of accounting software developers and of certified public accountants. We employ a questionnaire-based approach informed by prior research and validated through pilot testing. Our findings reveal significant benefits for software developers. AI effectively addresses various accounting errors, including tax rate discrepancies, cutoff period inaccuracies, principal violations, concealed transactions, mathematical mistakes, and manipulation errors. However, when considering users, AI’s effectiveness varies. While it successfully mitigates certain errors, such as those related to principles, it falls short in eliminating mathematical errors. This research contributes fresh insights into the role of AI in accounting within emerging markets, enhancing our understanding of its potential and limitations.

Keywords: artificial intelligence; blockchain technology; robotic process automation; deep neural network; accounting error; value-added tax; tax reporting (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/1911-8074/17/8/353/pdf (application/pdf)
https://www.mdpi.com/1911-8074/17/8/353/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:17:y:2024:i:8:p:353-:d:1455482

Access Statistics for this article

JRFM is currently edited by Ms. Chelthy Cheng

More articles in JRFM from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().