Artificial Intelligence (AI) in Accounting & Auditing: A Literature Review

This is a review work in the area of application of Artificial Intelligence (AI) in Accounting and Auditing. A semi-systematic or narrative review approach was employed in analyzing relevant published books and journals. Faced with the challenges of disruptive technologies brought forth by the Industry 4.0, the accounting and auditing discipline is required to undergo a metamorphosis in order to reach the next level. Interdisciplinary collaboration is a must with regard to the research conducted in the area of AI in accounting and auditing. Wider application of AI in accounting and auditing profession is expected to provide the benefits of greater efficiency, productivity and accuracy whereas burden with the challenges of income and wealth inequality, extinction of traditional jobs and…