Audit and Artificial Intelligence: A Literature Review

Abstract

Recently, artificial intelligence (AI) has moved to the forefront of bringing efficiency and convenience to various activities. AI has been engineered toward learning from user inputs and data to “think” like humans and make predictions and recommendations to carry out tasks and improve processes (“Short Primer,” n.d.). Meanwhile, the fields of accounting and finance have encountered efficiency issues due to the high-volume and variety of data involved in monitoring and analyzing financial information. The professionals within the business are aiming to use technology to automate repetitive, tedious tasks and allow more time for building organizational strategies and advising clients. This literature review was conducted to gain a better understanding of how artificial intelligence can assist in the accounting discipline of auditing. Virtual interviews were also conducted to obtain first-hand experience with current AI systems.