AI’S INFLUENCE ON AUDITING: AN EMPIRICAL STUDY

Abstract

A key component of operational and financial integrity, auditing promotes openness, responsibility, and trust in businesses. Auditing reduces risks and aids in the accomplishment of organizational goals by methodically assessing financial records and statements in compliance with accepted norms and laws. In this process, both internal and external auditors—from independent firms to in-house experts—are essential.Practitioners, scholars, and policymakers have shown a great deal of interest in incorporating Artificial Intelligence (AI) into auditing procedures in recent years. AI has the potential to completely change the auditing industry thanks to developments in big data analytics, machine learning, and natural language processing. With an emphasis on important areas like efficiency, accuracy, risk identification, fraud detection, and user training and adoption, this study explores how AI is affecting auditing.The study also looks at the advantages and disadvantages of using AI in auditing, highlighting how it can improve audit accuracy and efficiency. A survey with 108 respondents—including accountants and auditors—was carried out to achieve these goals. Their observations provide insightful viewpoints on the real-world implementation and perceived efficacy of AI tools in the auditing field.