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Prototyping and implementing Robotic Process Automation in accounting firms: Benefits, challenges and opportunities to audit automation

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  • Perdana, Arif
  • Lee, W. Eric
  • Mui Kim, Chu

Abstract

Despite the advancements in technology, auditors still spend a significant amount of time performing repetitive and rule-based tasks. Our paper examines various audit scenarios within four accounting firms and discusses the potential for robotic process automation (RPA) to improve the efficiency and accuracy of these tasks. We propose and implement RPA-enabled solutions to make various procedures more efficient and effective. These anecdotes were based on our consultancy experiences with auditors from a group of Big 4 and mid-sized accounting firms. We present four practical business process scenarios and the prototyped RPA solutions. In each scenario, we explain our automation strategies and the duration of development. We also describe the implementation benefits and challenges, as well as analyze how we have helped the accounting firms automate their real-world audit tasks by providing the as-is and to-be Business Process Model and Notation that one can extend for future RPA development. Finally, we discuss the future challenges and opportunities regarding the broader implementation of RPA in accounting and audit tasks.

Suggested Citation

  • Perdana, Arif & Lee, W. Eric & Mui Kim, Chu, 2023. "Prototyping and implementing Robotic Process Automation in accounting firms: Benefits, challenges and opportunities to audit automation," International Journal of Accounting Information Systems, Elsevier, vol. 51(C).
    • Handle: RePEc:eee:ijoais:v:51:y:2023:i:c:s1467089523000337
    DOI: 10.1016/j.accinf.2023.100641
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    References listed on IDEAS

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    1. Huang, Feiqi & Vasarhelyi, Miklos A., 2019. "Applying robotic process automation (RPA) in auditing: A framework," International Journal of Accounting Information Systems, Elsevier, vol. 35(C).
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    4. Plant, Olivia H. & van Hillegersberg, Jos & Aldea, Adina, 2022. "Rethinking IT governance: Designing a framework for mitigating risk and fostering internal control in a DevOps environment," International Journal of Accounting Information Systems, Elsevier, vol. 45(C).
    5. Prasad, Acklesh & Green, Peter, 2015. "Governing cloud computing services: Reconsideration of IT governance structures," International Journal of Accounting Information Systems, Elsevier, vol. 19(C), pages 45-58.
    6. Kokina, Julia & Blanchette, Shay, 2019. "Early evidence of digital labor in accounting: Innovation with Robotic Process Automation," International Journal of Accounting Information Systems, Elsevier, vol. 35(C).
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