Study of the Impact of the Big Data Era on Accounting and Auditing

Yuxiang Sun, Jingyi Li, Mengdie Lu and Zongying Guo

Papers from arXiv.org

Abstract: Big data revolutionizes accounting and auditing, offering deep insights but also introducing challenges like data privacy and security. With data from IoT, social media, and transactions, traditional practices are evolving. Professionals must adapt to these changes, utilizing AI and machine learning for efficient data analysis and anomaly detection. Key to overcoming these challenges are enhanced analytics tools, continuous learning, and industry collaboration. By addressing these areas, the accounting and auditing fields can harness big data's potential while ensuring accuracy, transparency, and integrity in financial reporting. Keywords: Big Data, Accounting, Audit, Data Privacy, AI, Machine Learning, Transparency.

Date: 2024-03
New Economics Papers: this item is included in nep-acc, nep-big, nep-cmp, nep-mac and nep-pay
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Published in Frontiers in Business, Economics and Management Vol. 13 No. 3 (2024) PUBLISHED: 05-03-2024

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