IDEAS home Printed from https://ideas.repec.org/a/mth/bmsmti/v15y2024i1p34-50.html
   My bibliography  Save this article

The Impact of Artificial Intelligence on the Accounting Profession: A Concept Paper

Author

Listed:
  • Nurul Afza Khusaini Mat Hussin
  • Nurul Ain Nadiah Mohd Bukhari
  • Nurul Hani Azyyati Nor Hashim
  • Sharina Nur Azyyati Shaipul Bahari
  • Mazurina Mohd Ali

Abstract

This study examined the impact of artificial intelligence (AI) on the accounting profession. It systematically investigated the effects of AI technologies on the accounting field, redefining the roles and responsibilities of accountants. Through literature review, this study sheds light on AI influence on the accounting profession. The results of this study indicate that the impact of AI on accounting profession can be divided into three themes- (i) automation of routine tasks, (ii) enhanced data analysis, and (iii) value-adding of the professional roles. The automation of routine tasks includes data entry, validation, and transaction processing, while enhanced data analysis includes predictive analytics and decision support. AI also has impacted in terms of value-adding of the professional roles, which comprise of increasing scalability and cost savings and focus on higher value activities. The findings of this study suggest that the accounting profession is evolving in response to AI technology, and accountants should embrace these changes to harness the full potential of AI in their work.

Suggested Citation

  • Nurul Afza Khusaini Mat Hussin & Nurul Ain Nadiah Mohd Bukhari & Nurul Hani Azyyati Nor Hashim & Sharina Nur Azyyati Shaipul Bahari & Mazurina Mohd Ali, 2024. "The Impact of Artificial Intelligence on the Accounting Profession: A Concept Paper," Business Management and Strategy, Macrothink Institute, vol. 15(1), pages 34-50, June.
  • Handle: RePEc:mth:bmsmti:v:15:y:2024:i:1:p:34-50
    as

    Download full text from publisher

    File URL: https://www.macrothink.org/journal/index.php/bms/article/download/21620/16715
    Download Restriction: no

    File URL: https://www.macrothink.org/journal/index.php/bms/article/view/21620
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Zhang, Chao & Zhu, Weidong & Dai, Jun & Wu, Yong & Chen, Xulong, 2023. "Ethical impact of artificial intelligence in managerial accounting," International Journal of Accounting Information Systems, Elsevier, vol. 49(C).
    2. Denise Jackson & Christina Allen, 2023. "Technology adoption in accounting: the role of staff perceptions and organisational context," Journal of Accounting & Organizational Change, Emerald Group Publishing Limited, vol. 20(2), pages 205-227, May.
    3. Denise Jackson & Grant Michelson & Rahat Munir, 2023. "Developing accountants for the future: new technology, skills, and the role of stakeholders," Accounting Education, Taylor & Francis Journals, vol. 32(2), pages 150-177, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Valeriu Brabete & Catalin Mihail Barbu & Daniel Circiumaru & Daniel Goagara & Dorel Berceanu, 2024. "Redesign of Accounting Education to Meet the Challenges of Artificial Intelligence – A Literature Review," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 26(65), pages 275-275, February.
    2. Churyk, Natalie Tatiana & Eaton, Tim V. & Matuszewski, Linda J., 2024. "Accounting education literature review (2023)," Journal of Accounting Education, Elsevier, vol. 67(C).
    3. Fan, Cunbin & Zou, Guohao & Yang, Chufeng & Zhao, Ziqiang, 2024. "Can the digital transformation of pharmaceutical enterprises' finance improve healthcare equity?," Finance Research Letters, Elsevier, vol. 67(PB).
    4. Amer Morshed & Laith T. Khrais, 2025. "Cybersecurity in Digital Accounting Systems: Challenges and Solutions in the Arab Gulf Region," JRFM, MDPI, vol. 18(1), pages 1-24, January.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mth:bmsmti:v:15:y:2024:i:1:p:34-50. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Technical Support Office The email address of this maintainer does not seem to be valid anymore. Please ask Technical Support Office to update the entry or send us the correct address (email available below). General contact details of provider: http://www.macrothink.org/journal/index.php/bms .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.