Artificial Intelligence in Auditing

Federica De Santis ()
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Federica De Santis: University of Pisa

Chapter Chapter 9 in Artificial Intelligence in Accounting and Auditing, 2024, pp 193-208 from Springer

Abstract: Abstract The labor-intensive and repetitive nature of auditing tasks, combined with strict compliance requirements, make auditing an ideal area for the integration of digital technologies like artificial intelligence (AI). AI offers significant potential for auditors, enabling them to accelerate auditing tasks, minimize human errors and bias, overcome sampling limitations, examine entire transaction populations, and lower audit costs. Nonetheless, similar to any innovation in professional practices, the adoption of AI in auditing poses unique challenges for both professionals and policymakers. These challenges mainly pertain to auditors’ readiness for technological advancements, their willingness to adapt their approach to audit tasks, and the ethical considerations of utilizing AI in their work. This chapter seeks to provide a more comprehensive understanding of how AI can impact auditing processes, encompassing both the opportunities and challenges.

Keywords: Auditing tasks; Human errors; Audit cost; Bias; Ethical considerations (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-71371-2_9

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DOI: 10.1007/978-3-031-71371-2_9

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