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The Impact Of Ai On Internal Audit And Accounting Practices

Author

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  • Adrian NICOLAU

    (Athenaeum University, Bucharest, Romania)

Abstract

The technological evolution in the last decade has led to the extensive integration of Artificial Intelligence (AI) into various fields, including audit and accounting. This research addresses the profound transformation of audit and accounting methodologies through the integration of AI-based technologies. Focusing on the application of linear regression in financial data analysis, this study explores the efficiency and accuracy of AI in interpreting, analyzing, and predicting financial models. Using simulated data sets and implementing the model in Python, the results show a strong correlation between the level of AI implementation and audit efficiency. Our vision for the future suggests a deep collaboration between human capability and artificial intelligence, allowing for a more accurate and efficient audit. This transformation will require ongoing adaptation from professionals and industry regulations.

Suggested Citation

  • Adrian NICOLAU, 2023. "The Impact Of Ai On Internal Audit And Accounting Practices," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 67(2), pages 38-56, May.
  • Handle: RePEc:ath:journl:v:67s:y:2023:i:2:p:38-56
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    More about this item

    Keywords

    Artificial Intelligence; Financial Audit; Linear Regression; Technology; Financial Analysis;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software

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