Importance of Artificial Intelligence in Auditing, Management Accounting and Accounting Information System Areas

Running head: AUDITING
Accounting
Name of the Student
Name of the University
Author’s Note

AUDITING1
Table of Contents
Artificial Intelligence.................................................................................................................2
Importance of AI in Auditing.....................................................................................................2
Importance of AI in Management Accounting..........................................................................2
Importance of AI in Accounting Information System Areas.....................................................3
Rational for Topic......................................................................................................................3
Relation of the Topic to Accounting Industry............................................................................4
References..................................................................................................................................5

AUDITING2
Artificial Intelligence
AI can be considered as the accumulation of concept as well as technologies that
mean different things to the people such as self-driving cars, robots and others. In other
words, AI can be considered as the simulation of human intelligence processed by different
computer system and machines (Ghahramani, 2015). In the recent years, vast contribution of
AI can be seen in different dimensions of the amounting profession like auditing,
management accounting and other these are discussed below.
Importance of AI in Auditing
The main focus area of AI in auditing is to ensure the automation of labour-intensive
tasks. Analysis of numbers is considered as the main task in auditing and the large use of AI
can be seen in this area of auditing. Auditors are using the next level of AI in the analysis of
numbers for automating statistics as well as mathematical modelling. This has large
relevancy with the audit of large corporations when the auditors wish to increase the speed,
granularity and productivity of the date analysis modelling. Moreover, AI helps the auditors
in making the audit judgments while assisting the auditors to make better decisions by taking
into consideration the potential omission and biases that could have normally took place in
the manual delicious-making process in auditing (Kokina & Davenport, 2017).
Importance of AI in Management Accounting
In management accounting, the use of accounting information can be seen by the
organizational managers for better decision-making process. AI has a positive role to play in
management accounting. AI helps the management accountants by providing data from
different sources by consolidating and merging it for effective decision making process. After
that, AI assists the management accounting profession in the tracking and procuring method
in management accounting; and the use of AI makes the accounting procurement process