Impact of Artificial Intelligence (AI) on Auditing Intelligence

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Authors
Kemuma Ondeyo, Rachel
Issue Date
2023-08
Degree
MSc in Financial Analytics
Publisher
Dublin Business School
Rights
Abstract
This research study investigates the multifaceted impact of artificial intelligence (AI) on auditing intelligence. The rapid advancements in AI technology empower auditors with tools for processing and analyzing extensive data, enhancing audit quality. Adapting to AI's prevalence is crucial, considering its potential impact on the auditing profession. However, integrating AI comes with challenges such as data privacy, security, and ethics. AI's potential in enhancing risk assessment and fraud detection is noteworthy. Collaboration between human auditors and AI tools is crucial for responsible integration. The study employs qualitative methods, including in-person interviews, to gather insights from participants. In conclusion, AI's impact on auditing intelligence is profound, enhancing efficiency, but challenges like ethics persist. Collaboration between human auditors and AI tools is essential for navigating the evolving landscape and fostering improved audit quality, efficiency, and ethical practices. Harmonizing technology and ethics ensures a successful future for the auditing profession.