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The impact of artificial intelligence on audit services: an empirical study of the Italian context

In: Handbook of Services and Artificial Intelligence

Author

Listed:
  • Domenica Lavorato
  • Rita Lamboglia

Abstract

In recent years, audit firms have invested heavily in artificial intelligence (AI) technologies to increase the efficiency of the audit process. However, the impact of AI on audit remains underexplored and there is limited empirical evidence to support this positive relationship. This study investigates the use of AI in audits and its impact on audit quality and the audit process. Using a qualitative approach, we interviewed auditors from the four largest audit firms (Big 4) in Italy. Our findings show that Big 4 firms are in the early stages of AI adoption and face significant implementation challenges. AI increases audit efficiency and transforms the auditor’s role from routine to value-added. The study highlights the need for auditor skills development to maximize the benefits of AI in future audits. The research sheds light on auditors’ current use of AI, addresses critical challenges faced by practitioners, and provides insights for improving audit processes.

Suggested Citation

  • Domenica Lavorato & Rita Lamboglia, 2024. "The impact of artificial intelligence on audit services: an empirical study of the Italian context," Chapters, in: Ada Scupola & Jon Sundbo & Lars Fuglsang & Anders Henten (ed.), Handbook of Services and Artificial Intelligence, chapter 5, pages 67-81, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21983_5
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035301973.00012
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