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The impact of the Artificial Intelligence on the accounting profession, a literature’s assessment

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  • Stancu Mirela Simina

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • Duţescu Adriana

    (Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

Artificial Intelligence is changing the reality of the accounting field, on a rapid way, due to the benefit of improving and reshaping the actual way of performing activities on this domain. Over the years accounting has changed significantly by replacing the work with paper and pencil first with computers, but more importantly with programmes able to decrease time spend on repetitive work that reduce the amount of errors. The interest on Artificial Intelligence solutions in this domain is not new but on the last years researchers become more focused on it. Despite the material progress there seems to be not enough data to support companies’ willingness to embed Artificial Intelligence solutions into their accounting activities. Also, an important aspect of this reality is the capability of experts to adapt faster to the new status quo and to acquire the necessary skills to be able to work with Artificial Intelligence solutions and to overcome the fear of losing their jobs. This paper is focusing on understanding the impact of Artificial Intelligence solution in accounting by conducting a qualitative research based on relevant literature review, of the last years. This paper is highlighting the potential changes Artificial Intelligence can bring to the accounting jobs and the necessary steps to be taken in order to prepare for the new jobs, in which Artificial Intelligence solutions will be more present.

Suggested Citation

  • Stancu Mirela Simina & Duţescu Adriana, 2021. "The impact of the Artificial Intelligence on the accounting profession, a literature’s assessment," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 15(1), pages 749-758, December.
    • Handle: RePEc:vrs:poicbe:v:15:y:2021:i:1:p:749-758:n:20
    DOI: 10.2478/picbe-2021-0070
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    References listed on IDEAS

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    1. Dimitris Andriosopoulos & Michalis Doumpos & Panos M. Pardalos & Constantin Zopounidis, 2019. "Computational approaches and data analytics in financial services: A literature review," Journal of the Operational Research Society, Taylor & Francis Journals, vol. 70(10), pages 1581-1599, October.
    2. Sutton, Steve G. & Holt, Matthew & Arnold, Vicky, 2016. "“The reports of my death are greatly exaggerated”—Artificial intelligence research in accounting," International Journal of Accounting Information Systems, Elsevier, vol. 22(C), pages 60-73.
    3. Dimitris Andriosopoulos & Michalis Doumpos & Panos M. Pardalos & Constantin Zopounidis, 2019. "Computational approaches and data analytics in financial services," Journal of the Operational Research Society, Taylor & Francis Journals, vol. 70(10), pages 1579-1580, October.
    4. Andiola, Lindsay M. & Masters, Erin & Norman, Carolyn, 2020. "Integrating technology and data analytic skills into the accounting curriculum: Accounting department leaders’ experiences and insights," Journal of Accounting Education, Elsevier, vol. 50(C).
    5. Gulin, Danimir & Hladika, Mirjana & Valenta, Ivana, 2019. "Digitalization and the Challenges for the Accounting Profession," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2019), Rovinj, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Rovinj, Croatia, 12-14 September 2019, pages 502-511, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
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